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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

How Bitcoin Won The Heart Of This Financial Giant

Rubmar Garcia
Rubmar Garcia
1 year ago
3 mins read
Bitcoin, Crypto, BTC

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Franklin Templeton President and CEO Jenny Johnson joined CNBC’s ‘Squawk Box’ to discuss the firm’s spot Bitcoin Exchange-Traded Fund (ETF) offering in the US. In this interview, Johnson shared the reasons for investing in Bitcoin.

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What Made Franklin Templeton CEO A Bitcoin Believer

As she states in the interview, the CEO is known for saying that “Bitcoin is the greatest distraction from one of the greatest disruptions in financial services,” which has led many people to believe that she doesn’t 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 company’s belief in BTC and blockchain technology.

Johnson cites the security that Bitcoin provides as one of the reasons that made her a “believer.” Holding and managing your private keys, which she states doing at one point, gives the asset what she labels an “insurance or safety component.”

This component makes crypto investors trust Bitcoin more since there’s a “fear component” 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 ‘I keep 50% of my savings in Bitcoin because if I save the wrong thing in my country, I could have my assets confiscated.’ I remember talking to somebody in Israel who said, ‘My parents and their parents had all of their assets confiscated’ and they keep a portion in Bitcoin. So, there’s a fear component to it that it’s considered almost an insurance or safety component.

The CEO also listed the importance of Bitcoin in “fueling what is the next real opportunity in this blockchain world,” another reason for her to believe in the asset.

Trust In Blockchain Technology

Regarding the reason behind the market’s demand that led to the spot Bitcoin ETF’s approval by the US Securities and Exchange Commission (SEC), the CEO thinks that there are various reasons for it, including Bitcoin’s crucial role, “from a blockchain standpoint,” in the ability to pay.

Johnson further explained that blockchain technology will “open a lot of really interesting tech investment opportunities,” as Bitcoin is “one of the suitable opportunities here.” Furthermore, the CEO recalled the asset manager’s previous use and trust in blockchain technology:

We actually launched and tokenized money market fund. We’re 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 there’s 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 “being able to open it up, have access through an ETF, and simply through your account.”

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Bitcoin is trading at $40,990.5 on the hourly chart. Source: BTCUSDT on TradingView.com
Feature image from Unsplash.com, Chart from TradingView.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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