BlackRock CEO: Bitcoin is Doing So Well because it’s ‘Anonymous’

The CEO of BlackRock has made the claim that the only reason bitcoin has become so successful is because of its anonymous nature.

Larry Fink, CEO of BlackRock, an American global investment management corporation, said earlier this week that the digital currency remains a ‘speculative’ asset and that it’s a currency that people use for money laundering, reports the South China Morning Post. Speaking at a 2018 Global Investment Outlook Summit, Fink said:

The reason why it does so well is it is anonymous. It’s anonymous, and it’s cross-border. If you legitimise it, you know who your counterparties are … the question is how many people will use it if you have to acknowledge you are a buyer or a seller.

However, while Fink claims that the digital currency is anonymous, this is far from true. At the best of times it can be considered as pseudonymous. This is certainly the thinking of Princeton University researchers who have found that it’s possible to uncover a user’s identity on the blockchain.

In an August report, the researchers said in a note that: […]

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