BlackRock CEO Larry Fink, managing assets of $11.5 trillion, confirmed his evolution from skeptic to proponent of Bitcoin. In a recent statement, he referred to $BTC as the "currency of fear", but emphasized that this is a positive characteristic. Fink explained that people buy Bitcoin out of fear of devaluation of national currencies and political instability, making it an international tool to overcome local risks. "If you are afraid of the devaluation of your currency or economic stability, Bitcoin is a tool that transcends these fears," he noted.
This statement echoes his comments from January 2025 at the World Economic Forum in Davos, where Fink predicted the price of BTC to reach $700,000 if sovereign funds begin to allocate 2-5% of portfolios in crypto. "It will be $500,000, $600,000, or $700,000 per Bitcoin," he said, referring to discussions with investors. Fink compares BTC to "digital gold", which protects against inflation and debt crises. In his 2025 shareholder letter, he warned: if the U.S. does not control its debt ($36 trillion), Bitcoin could replace the dollar as the world's reserve currency.
Fink's change of views began during COVID-19 when he saw an Afghan woman using BTC to make salary payments, circumventing Taliban restrictions. Previously, in 2017, he called Bitcoin an "index of money laundering". Now BlackRock's iShares Bitcoin Trust (IBIT) is the largest ETF with $50 billion in assets, with record $662 million of BTC purchases in January. Fink is also promoting asset tokenization to revolutionize investments, making them faster and more accessible.
These words underscore the maturity of the crypto market: Bitcoin is evolving from speculation to a hedge tool. For investors, this is a signal to diversify, especially in the context of global instability.
#LarryFink #blackRock #bitcoin #CurrencyOfFear #CryptoHedge #DigitalGold #BitcoinETF #CryptoNews
Subscribe to #MiningUpdates for fresh news from the world of cryptocurrencies and technology!
