BlackRock’s CEO Openly Shifts Bitcoin Stance

BlackRock CEO Larry Fink has shifted his perspective on Bitcoin — and he openly acknowledged the change.

Fink was speaking at the NYT DealBook Summit, which took place on Wednesday. stated That he sees now potential in Bitcoin. Fink, a former vocal critic of Bitcoin who was famously accused by labeled Bitcoin “an index for money laundering,” 

Today, Fink described Bitcoin as “an asset of fear,” The article explains that many investors buy it because of concerns over financial security, instability in the geopolitical arena, and depreciation of traditional investments due to increasing deficits.

“If you bought it for a trade, it’s a very volatile asset, you’re going to have to be really good at market timing, which most people aren’t,” Fink said. “If you’re buying it as a hedge against all your hope, then it has a meaningful impact on a portfolio… the other big problem of Bitcoin is it is still heavily influenced by leveraged players.”

Fink, speaking alongside Coinbase CEO Brian Armstrong, noted that market movements — like a recent 20–25% drawdown in Bitcoin — often reflect broader events, such as trade agreements with China or potential settlements in Ukraine. 

Fink said, however, that despite this it is still a valuable portfolio insurance for investors who are holding the stock as a hedge and not for trading on short terms.

Fink said that his view has changed over the years as a result of his client interaction and his discussions with policymakers. He called his new perspective a “change of heart”. “very glaring public example” It is important to revisit strong opinions. 

Fink’s skepticism has been replaced by a newfound embrace of crypto, with BlackRock offering several products. One is the Bitcoin ETF.

“There is no chance” Bitcoins will soon be zero. said Armstrong was seated next to Fink. Fink shared his optimism for the asset. “I see a big, large use case for Bitcoin,” “He said”