Key points:
- Donald Trump is reportedly considering Larry Fink, CEO of BlackRock, for US Treasury Secretary if he wins the 2024 election.
- Fink and Trump have a history of mutual respect, with BlackRock having managed Trump’s investment portfolio in the past.
- This choice aligns with Trump’s recent trend of associating with crypto-friendly figures, as Fink has become more positive about Bitcoin.
- There are conflicting reports about whether JPMorgan CEO Jamie Dimon is also being considered for the position.
- The relationship between Trump and Fink is described as an unlikely but potentially beneficial pairing for the country.
Former President Donald Trump is reportedly considering Larry Fink, CEO of BlackRock, for the position of US Treasury Secretary should he win the 2024 election. This potential appointment marks another step in Trump’s recent pattern of aligning himself with figures who have shown openness to the crypto sector.
Larry Fink, whose asset management firm BlackRock currently holds over 310,000 Bitcoins worth approximately $17.48 billion, has recently changed his stance on cryptocurrencies. After previously dismissing crypto as a scam, Fink now praises Bitcoin as a legitimate financial instrument with the potential to benefit economies worldwide.
The relationship between Trump and Fink goes back several years, with BlackRock having managed Trump’s investment portfolio in the past. During his presidency, Trump appointed Fink to his business advisory council, despite Fink’s focus on ESG (Environmental, Social, and Governance) investing, which typically doesn’t align with Republican ideologies.
“Larry did a great job for me. He managed a lot of my money. I have to tell you, he got me great returns,”
Trump once remarked at a White House meeting, highlighting their longstanding business relationship.
This potential appointment comes on the heels of other crypto-friendly moves by Trump, including choosing Bitcoin-owning JD Vance as his running mate and receiving advice from David Bailey, CEO of Bitcoin Magazine, on incorporating cryptocurrency into his political platform.
However, there are conflicting reports about Trump’s choice for Treasury Secretary. While some sources indicate Fink is the frontrunner, others suggest JPMorgan CEO Jamie Dimon is also being considered. The Trump campaign has not officially commented on these speculations.
The possibility of Fink as Treasury Secretary has sparked interest in the crypto community, with many viewing it as a potential shift towards more crypto-friendly policies at the highest levels of government.
If appointed, Fink’s stance on Bitcoin and his extensive experience in global finance could significantly influence U.S. economic and cryptocurrency policies.
As the 2024 election approaches, the financial world will be watching closely to see how Trump’s economic team takes shape and what implications it might have for the future of cryptocurrency in the United States.
