How Bitcoin Won The Heart Of This Financial Giant (newsbtc)
Franklin Templeton President and CEO Jenny Johnson joined CNBCâs âSquawk Boxâ to discuss the firmâs spot Bitcoin Exchange-Traded Fund (ETF) offering in the US. In this interview, Johnson shared the reasons for investing in Bitcoin.
What Made Franklin Templeton CEO A Bitcoin Believer
As she states in the interview, the CEO is known for saying that âBitcoin is the greatest distraction from one of the greatest disruptions in financial services,â which has led many people to believe that she doesnât support or believe in the crypto asset.
Contrary to this belief, she points out that the Franklin Bitcoin ETF (EZBC) launch shows the asset manager companyâs belief in BTC and blockchain technology.
Johnson cites the security that Bitcoin provides as one of the reasons that made her a âbeliever.â Holding and managing your private keys, which she states doing at one point, gives the asset what she labels an âinsurance or safety component.â
This component makes crypto investors trust Bitcoin more since thereâs a âfear componentâ linked to traditional assets, as she explains:
One of the things that made me a believer is: as I went around the world talking to people who would tell you âI keep 50% of my savings in Bitcoin because if I save the wrong thing in my country, I could have my assets confiscated.â I remember talking to somebody in Israel who said, âMy parents and their parents had all of their assets confiscatedâ and they keep a portion in Bitcoin. So, thereâs a fear component to it that itâs considered almost an insurance or safety component.
The CEO also listed the importance of Bitcoin in âfueling what is the next real opportunity in this blockchain world,â another reason for her to believe in the asset.
Trust In Blockchain Technology
Regarding the reason behind the marketâs demand that led to the spot Bitcoin ETFâs approval by the US Securities and Exchange Commission (SEC), the CEO thinks that there are various reasons for it, including Bitcoinâs crucial role, âfrom a blockchain standpoint,â in the ability to pay.
Johnson further explained that blockchain technology will âopen a lot of really interesting tech investment opportunities,â as Bitcoin is âone of the suitable opportunities here.â Furthermore, the CEO recalled the asset managerâs previous use and trust in blockchain technology:
We actually launched and tokenized money market fund. Weâre the first mutual fund or the first traditional asset manager to actually launch a 40-act fund on a public blockchain, on the stellar blockchain.
Lastly, when asked what can allure a traditional investor to invest in an ETF, she explains thereâs a market and use case for both. But while holding your keys can be ideal for many, it may also be complicated to figure out.
ETFs can better fit some investors who want to diversify their portfolio while âbeing able to open it up, have access through an ETF, and simply through your account.â
from RSS Cryptocurrency News feed https://www.newsbtc.com/bitcoin-news/how-bitcoin-won-the-heart-of-this-financial-giant/