🪙💰 BlackRock's CEO says crypto and gold are 'fear assets' amid the US debt crisis

October 28, 2025 | Source: Decrypt

BlackRock CEO Larry Fink stated that cryptocurrencies and gold have become 'fear assets' amid growing global concerns about public debt — especially in the United States.

'You own crypto or gold because you fear the devaluation of your assets. You are worried about your financial and physical security,' Fink said during the Future Investment Initiative conference in Riyadh.

📉 Context:

The IMF projects that US debt will reach 143.4% of GDP by 2030, surpassing levels in Italy and Greece. The budget deficit is expected to remain above 7% of GDP annually — the highest among advanced economies.

🔹 Fabian Dori, CIO of Sygnum Bank, explained that the focus is on 'devaluation trading,' where investors flee from fiat currencies and seek tangible assets.

'There are good reasons for banks and private investors to start protecting themselves with Bitcoin,' Dori said, warning that the 24/7 market demands new risk models.

💡 Shift in stance:

Fink, who in 2017 called Bitcoin a 'criminal's currency,' now claims to be an enthusiast, stating it is an asset used 'when you are fearful.'

BlackRock, with $12.5 trillion under management, operates the world's largest Bitcoin ETF — the iShares Bitcoin Trust, with $93.9 billion in AUM.

'Crypto has a role, just like gold — it is an alternative,' Fink told CBS.

📊 Analysts like Nic Puckrin from Coin Bureau highlight that Bitcoin has evolved from a post-2008 protective asset to a bet on the future of financial technology.

Currently, the $BTC is trading around $114,820, slightly down (-0.4%), while investors remain divided between protection and opportunity.

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