Franklin Templeton’s CEO says Bitcoin is “the best distraction” from the ongoing financial crisis

According to Jenny Johnson, President and CEO of Franklin Templeton, the current status of the economy is really bad, and Bitcoin is “the best distraction” from it. She also praised blockchain technology as an excellent breakthrough that will soon have a good impact on a wide range of businesses.

The current economic crisis, according to Jenny Johnson, is “the best disruption I see occurring to monetary providers at present,” she said in a recent interview. She believes that consumers might be distracted from the problems by Bitcoin but that governments won’t allow BTC to overtake other foreign exchange options. Johnson stated:

“It’s extra like faith, and individuals are going to debate it.”

Moreover, the CEO believes that blockchain technology is the real game changer and that it will positively impact almost every industry in a “fairly dramatic” way.

Johnson went on to reassure users that Franklin Templeton continues to offer cryptocurrency services and has no intentions of ceasing doing so.

Franklin Templeton, a multinational investment company with over $1.5 trillion in assets under management, was founded in 1947. In addition to conventional financial services, the business also offers cryptocurrency options.

Bitcoin sees major developments

The recent developments in the crypto industry demonstrate how traditional institutions, such as hedge funds, pension funds, and banks, have shown a positive stance towards the crypto industry by increasing their investment, betting that the alternative asset class would continue to expand.

As TheCoinRise reported, investment giant BlackRock recently launched its first investment product with direct exposure to Bitcoin– a private Bitcoin trust. The latest launch comes a week after its partnership with Coinbase to offer crypto exposure to its clients via the capabilities of the exchange giant.

The crypto industry has recently taken a slight upward direction with Ethereum’s The Merge news. Bitcoin is up by 3% in the last seven days, and is currently trading around $24,000 level.