BlackRock CEO Larry Fink Reassesses BTC, Calls It ‘Not a Bad Asset’
BlackRock CEO Larry Fink has officially softened his stance on BTC, marking a significant shift in sentiment from one of Wall Street’s most influential figures. In a recent interview with CBS’s 60 Minutes, Fink described BTC as “not a poor asset,” admitting that both he and the global investment community have undergone a “reassessment” of the cryptocurrency’s role in modern finance.
Fink’s comments come as a surprise to many observers, given his previous skepticism toward digital currencies. In 2017, he famously called BTC an “index of money laundering,” echoing the cautious tone of traditional financial leaders at the time. However, in his latest remarks, Fink acknowledged that the market’s evolution and growing investor demand have changed the narrative around BTC and digital assets more broadly.
A changing perspective on digital assets
During the interview, Fink likened BTC to gold, positioning it as a potential store of value in diversified portfolios. “I used to think BTC was purely speculative,” he said. “But I now view a role for crypto the identical way there is a role for gold. It’s not for everyone, but it has earned its place.” His comments underscore a broader shift in institutional thinking as blockchain technology matures and digital asset products become more accessible.
Under Fink’s leadership, BlackRock has already embraced this transformation by launching a spot BTC ETF, a move that has assisted accelerate institutional participation in crypto markets. The firm’s product has attracted consistent inflows since its debut, highlighting sustained demand from both retail and professional investors viewking exposure to BTC without direct custody risks.
Fink’s revised outlook is viewn by analysts as a milestone moment for BTC’s mainstream acceptance. “When the CEO of the world’s largest asset manager calls BTC a legitimate asset, it carries weight far beyond the crypto industry,” said a senior market strategist. “It signals that traditional finance is not just observing the digital asset ecosystem — it’s becoming an active participant.”
His acknowledgment also comes amid rising global interest in digital currencies as inflationary pressures and geopolitical uncertainty push investors to reconsider traditional stores of value. BTC’s role as a decentralized, borderless asset continues to attract attention from both institutions and sovereign wealth funds.
The timing of Fink’s comments aligns with growing optimism around BTC’s long-term fundamentals. Regulatory clarity in major markets, coupled with advancements in blockchain infrastructure, has improved investor confidence and reduced perceived risks associated with crypto exposure. As a result, more portfolio managers are considering small but strategic allocations to BTC as a hedge against systemic financial risks.
A turning point for institutional adoption
Fink’s reassessment reflects a broader realization across Wall Street: BTC and other digital assets are no longer fringe experiments but an emerging asset class with staying power. “We’re still ahead in this evolution,” he said. “The world is reassessing what stores of value look like, and BTC is part of that conversation.”
With BlackRock’s endorsement, BTC’s institutional legitimacy appears stronger than ever. The shift not only reinforces its status as a modern financial instrument but also paves the way for deeper integration of digital assets within traditional markets — a development that could redefine global investment strategies for years to come.
