🏆 Bitcoin has finally moved from being a “questionable experiment” to a recognized asset class.
BlackRock CEO Larry Fink admitted that he has completely changed his view on cryptocurrencies — from 2017, when he called Bitcoin a “money-laundering index,” to today, when he puts it on the same level as gold.
In an interview with CBS, Fink said:
“I really did say that Bitcoin was a domain for money launderers and thieves. But markets teach you — you must always revisit your assumptions. Cryptocurrencies have their role, just like gold: they are an alternative.”
He emphasized that Bitcoin has become a diversification tool that should be considered part of a modern investment portfolio, but not its core:
“For those looking for diversification, it’s a good asset, but I don’t think it should make up a large portion of your portfolio.”
BlackRock — The Largest Player in Digital Assets
BlackRock, managing about $12.5 trillion in assets, has become one of the key institutional players in the crypto market.
In 2024, it launched iShares Bitcoin Trust (IBIT) — a spot Bitcoin ETF approved by the SEC. Within months, the fund became the world’s largest crypto ETF with over $93.9 billion in assets under management, according to SoSoValue.
According to CryptoQuant, as of August 17, 2025, U.S. spot Bitcoin ETFs held over 1.25 million BTC (around 6% of total supply), with BlackRock controlling nearly 749,000 BTC — roughly 60% of the market.
In English:
In the first quarter of 2025, the company attracted $3 billion in investments in digital assets, accounting for 2.8% of total IBIT inflows. Commission revenue reached $34 million.
Fink: Bitcoin Is a New Asset Class, Independent of Politics
At a 2024 conference, Larry Fink stated that Bitcoin has become a standalone asset class — an alternative to traditional commodities like gold.
He noted that the sector’s future depends on the adoption of artificial intelligence and advanced analytics tools, not politics:
“The development of the crypto market depends neither on regulation nor on the outcome of U.S. presidential elections.”
Institutional Adoption: When Skeptics Turn into Supporters
Fink’s change in rhetoric reflects a broader global trend toward institutional adoption of cryptocurrencies.
As Fabian Dori, Chief Investment Officer at Switzerland’s Sygnum Bank, noted:
“If any further proof of institutional acceptance was needed — Larry Fink himself just provided it. He called Bitcoin a potential replacement for the U.S. dollar in the event of a debt crisis.”
According to Dori, institutional investors view cryptocurrencies as:
- a store of value in times of instability,
- an alternative payment instrument,
- the infrastructure of a new decentralized application economy.
“Growing macroeconomic uncertainty, geopolitical tension, and the risk of currency devaluation strengthen Bitcoin’s role as a ‘safe haven’,” he added.
BlackRock Recommends: 1–2% in Bitcoin
Previously, BlackRock analysts recommended allocating 1–2% of an investment portfolio to Bitcoin.
As Samara Cohen, Chief Investment Officer for ETFs and Index Investments at the company, explained:
“This strategy helps maximize Bitcoin’s diversification potential while reducing overall portfolio risk.”
💡 Conclusion
What Larry Fink once called “a toy for criminals” eight years ago has now become an institutional standard.
And if even Wall Street’s most conservative investor places Bitcoin alongside gold — it means the new financial era has already begun.
You can watch Larry Fink’s video interview in our Telegram channel.
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