BlackRock CEO Larry Fink has continued to recommend exposure to Bitcoin and cryptocurrencies, calling them assets of fear. Fink appeared at the 9th edition of the Future Investment Initiative in Saudi Arabia and preached the virtues of Bitcoin ownership to one of the world’s biggest investors. He told these financial titans to own cryptocurrencies, insisting they are a proper hedge against economic decadence.
Bitcoin and Crypto as Financial Safe Haven
The BlackRock CEO posed Bitcoin and crypto as “assets of fear.” He emphasized that they are a go-to asset class for those who are frightened by the government’s economic policies.
He explicitly called them a hedge against fiat currency debasement and the global rise of insecurity. Furthermore, he suggested that they are a safe haven for investors unsure of their financial security due to bad policies.
Fink asked to buy Bitcoin if “you are frightened of the debasement of your assets” or “worried about your financial security,” calling the asset a hedge against “optimism.”
Meanwhile, Fink’s statement further strengthens the growing sentiment that Bitcoin and cryptocurrencies are maturing into a strong option for averting inflation. It further emphasizes his shift from skepticism against the sector to total embrace.
Recall that he once called Bitcoin an “index of money laundering” and noted that Bitcoin’s volatility suggests a lack of intrinsic value. However, he has recently turned bullish on Bitcoin, stating in his 2025 letter to shareholders that it could replace the US dollar as the world’s reserve currency.
Moreover, his firm’s Bitcoin product, iShares Bitcoin Trust (IBIT), has amassed over $65 billion in inflows and $100 billion in AUM as investors grow increasingly interested in the crypto leader.
Bitcoin Continues to Enter the Gold Conversation
Remarkably, many analysts believe Bitcoin is the “digital gold.” Notably, the comparison with gold has continued to gain momentum even in the global financial scene.
For context, Fink placed Bitcoin alongside gold as assets that could help curb the impact of inflation on one’s finances. Other prominent financial experts, like Robert Kiyosaki, have also consistently placed BTC and gold side by side, insisting that it is better to own them than fiat. Deutsche Bank also projected in September that Bitcoin would coexist with gold in the balance sheet of central banks by 2030.
This growing optimism about Bitcoin has sparked speculation that it will one day match gold’s valuation. Some suggest it would reach at least half of the precious metal’s valuation; others insist it would match the leading asset toe-to-toe, while bulls like Michael Saylor see Bitcoin outgrowing gold by up to 10x.
Nonetheless, a recent report from Bitwise shows that Bitcoin would rally to $242,000 in a moderate 5% reallocation from gold.