BlackRock CEO Sees Crypto Dip as Buying Opportunity
BlackRockās CEO, Larry Fink, believes the current market downturn could lead to another 20% drop. This comes as stocks have been falling for over 30 days. Bitcoin (BTC) has also taken a hit, dipping below $80k, a level not seen since early November 2024.
During a Bloomberg TV interview, Fink shared his viewpoint. āThis dip is more of a buying opportunity than a selling one. However, further declines are possible. I wouldnāt advise taking money out now.Its a good time to enter,ā he explained.
Fink believes that the underlying market trends remain strong. Opportunities in tech innovation, artificial intelligence, and other U.S. sectors are still intact. He expects crypto to recover after the recent sell-off.
Earlier in the U.S.trading session, stocks and Bitcoin briefly rose due to fake news about a potential 90-day tariff pause by the White House.The S&P 500 and cryptocurrencies surged but quickly lost their gains when the news was debunked.
Fink also discussed the possibility of a rate hike by the Federal Reserve. He noted that most CEOs he has spoken to believe a recession is underway. Despite the volatility,Bitcoin is currently trading around $78k.
