Article: BlackRock CEO: Bitcoin is an index of money laundering

Article - Media, Publications

BlackRock CEO: Bitcoin is an index of money laundering

ALI BRELAND, 13 October 2017

Larry Fink, CEO of the investment management company BlackRock, hammered bitcoin on Friday. “Bitcoin just shows you how much demand for money laundering there is in the world,” Fink said at the Institute of International Finance on Friday. “It’s an index of money laundering. That’s all it is.”

Fink joins JPMorgan Chase & Co. CEO Jamie Dimon in his disdain for the cryptocurrency. Dimon, who had previously compared bitcoin’s rise to the tulip boom and subsequent crash in the 17th century, took shots at bitcoin again on Friday. “If you’re stupid enough to buy it, you’ll pay the price for it one day,” Dimon said.

Read Full Article