During a recent CNBC interview, BlackRock CEO Larry Fink admitted he was “wrong” about Bitcoin, now recognizing it as “digital gold” and a “legitimate” financial instrument. Speaking with CNBC’s Jim Cramer, Fink said, “I was a skeptic, a proud skeptic,” but his perspective changed after studying the decentralized asset.” He acknowledged Bitcoin’s potential for uncorrelated returns, stating, “It is a legitimate financial instrument that allows you to maybe have uncorrelated type of returns. “I believe it is an instrument that you invest in when you’re more frightened, though. It is an instrument when you believe countries are debasing their currency
