BlackRock CEO Larry Fink Says Bitcoin Is An International Asset
By BtcCasey         

BlackRock, the world's largest asset manager with almost $9 trillion in assets under management, is taking significant steps towards embracing bitcoin. The company has filed for a spot bitcoin exchange-traded fund (ETF), indicating its willingness to offer clients exposure to the digital asset. This move is expected to drive institutional adoption of bitcoin.

BlackRock recently resubmitted its filing after the Securities and Exchange Commission (SEC) requested additional information regarding the exchange involved. In response, BlackRock included Coinbase in the filing, following the example of other firms that resubmitted their filings.

BlackRock's CEO, Larry Fink, appeared on Fox Business and described bitcoin's role as "digitizing gold." He stated that instead of investing in gold as a hedge against inflation or currency devaluation, bitcoin can serve as an alternative asset. Fink's comparison between bitcoin and gold highlights the perception of bitcoin as a store of value, similar to the traditional role of gold in investment portfolios. By acknowledging bitcoin's international nature, Fink emphasizes its potential as a global store of wealth. His endorsement of bitcoin's international appeal further strengthens the case for increased institutional interest and investment.

BlackRock's pursuit of a Bitcoin ETF and Fink's endorsement of bitcoin as digitized gold demonstrate a significant shift in the attitude of major financial institutions towards bitcoin. These developments indicate that BlackRock, along with other industry giants, recognizes the potential of bitcoin to reshape the financial landscape.

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🏠 Bitcoin And Housing

Replacing The World’s Preferred Store Of Value, Bitcoin Will Make Housing Affordable Again
By Leon Wankum

Leon Wankum discusses the role of real estate as a store of value and its impact on wealth inequality. Wankum highlights that since the end of the gold standard in 1971, real estate has become a popular investment asset to protect against inflation caused by the rising money supply. As a result, real estate prices have soared, making homeownership unaffordable for many people and leading to increased rents.

Wankum argues that real estate has transitioned from its original purpose as a utility for living or production to a speculative investment due to the erosion of purchasing power caused by inflation. This shift has created a financial system where real estate serves as collateral for loans, excluding those who cannot afford it. These developments contribute to the growing wealth inequality observed worldwide.

To address this issue, Wankum proposes reducing real estate to its utility value and using bitcoin as an alternative store of value. Bitcoin possesses properties that make it an ideal store of value, including its finite supply, portability, divisibility, durability, fungibility, censorship resistance and noncustodial nature. By purchasing bitcoin instead of real estate, people can drive down real estate prices and make homeownership affordable again.

Wankum believes that as bitcoin adoption increases, money that would have been invested in real estate will flow into bitcoin, making housing more accessible. Under a bitcoin standard, real estate prices would eventually collapse to their utility value. Additionally, Wankum suggests that a bitcoin-based financial system would be more accessible, decentralized and less regulated, leading to a decrease in rents over time.

However, Wankum acknowledges that this transition would not immediately solve the problem of rising rents due to the structural issues of the fiat system. In the short term, the inflationary nature of fiat currencies would continue to cause prices to rise. Nevertheless, as the financial system adjusts to a Bitcoin standard, deflation would occur, resulting in lower prices.

It's important to note that the views expressed in the article are those of the author and do not necessarily represent the views of BTC Inc or Bitcoin Magazine.

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