Larry Fink Got 'Orange-Pilled', Says Galaxy Digital's Mike Novogratz: Bloomberg
Galaxy Digital CEO Mike Novogratz said Fink is "the most important thing that happened this year in bitcoin."
![Mike Novogratz (Suzanne Cordiero/Shutterstock/CoinDesk)](https://img.bitgetimg.com/multiLang/image/82bfae0a49f69b92c3ea368df00216671690826408810.C2A47H62ZBPRHXRHCHOGNJXB4.jpg)
BlackRock (BLK) CEO Larry Fink has been "orange-pilled," or converted from being a bitcoin (BTC) nonbeliever into a believer, Mike Novogratz .
Novogratz, CEO of crypto-focused financial services firm Galaxy Digital (GLXY), said Fink is "the most important thing that happened this year in bitcoin," because of BlackRock's application to list a spot bitcoin exchange-traded fund (ETF) in the U.S. in June.
“Larry was a nonbeliever. Now he says, ‘Hey, this is going to be a global currency.’ People around the world all trust it,” Novogratz said
The possibility of BlackRock, one of the world's largest asset management firms, leading the way among is part of an "adoption cycle," in the cryptocurrency industry, Novogratz said.
The U.S. Securities and Exchange Commission has rejected dozens of applications to list spot bitcoin ETFs, a policy that has been seen as a major factor inhibiting wider mainstream crypto adoption. BlackRock's application , which is supposed to guard against market manipulation and is considered to make it more acceptable to the SEC. Several other asset managers subsequently refiled applications also including such an agreement.
Novogratz also called Ripple's recent in their legal battle a victory for crypto because it demonstrated that "the rules are nothing close to clear." The judge in the case ruled that the sale of XRP tokens on exchanges and through algorithms did not constitute investment contracts, in contradiction to the SEC's long-held view.
Read More:
Edited by Sheldon Reback.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
July 2024: Optimizing Balanced Through New Development
In July, ICON advanced its integration efforts and optimized system performance. Key achievements including completion of audits for Stellar, and contracts for Solana. Looking ahead to August we anticipate the deployment of Sui contracts to mainnet.|
![](https://img.bitgetimg.com/multiLang/web/434504f1921aaee378f42a04d0b6172e.webp)
MAX Score Airdrop Event Reward Allocation and Claim Guide
![](https://img.bitgetimg.com/multiLang/web/1a3360b2c5a89b6bb6557a208e2ff139.webp)
Dogs: There will be something for DOGS player on August 14th
![](https://img.bitgetimg.com/multiLang/web/7ee8e3141f18d5c446d8a7bc69ecd22b.jpg)