In a notable turnaround, BlackRock CEO Larry Fink has called Bitcoin an “asset of fear,” signaling a dramatic shift in how one of the world’s most influential financial leaders views the world’s largest cryptocurrency. Fink, who once criticized Bitcoin for being a tool mainly used for money laundering, now acknowledges its role as a hedge in times of global uncertainty.
This new stance reflects a broader institutional shift toward accepting Bitcoin not just as a speculative investment but as a legitimate part of diversified portfolios.
From Doubt to Belief: A Major Shift in Tone
Larry Fink’s earlier statements about Bitcoin were often skeptical. In the past, he associated digital assets with illicit activity, echoing concerns shared by regulators and traditional financial institutions. However, today’s comment about Bitcoin being an “asset of fear” marks a key evolution in perspective.
Rather than viewing it solely through a lens of risk, Fink now sees Bitcoin as something investors turn to when faced with economic instability, inflation fears, or geopolitical crises. In this light, Bitcoin is being compared to traditional safe-haven assets like gold.
TODAY: BlackRock CEO Larry Fink now sees Bitcoin as an "asset of fear," calling it a big shift in his opinions after previously associating crypto primarily with money laundering. pic.twitter.com/2LfLy9DyYZ
— Cointelegraph (@Cointelegraph) December 4, 2025
Wall Street’s Growing Comfort With Bitcoin
Fink’s updated viewpoint aligns with BlackRock’s increasing involvement in the crypto space. The asset management giant has filed for a spot Bitcoin ETF and has expanded its digital asset services. His remarks highlight how mainstream finance is no longer just exploring crypto — it’s starting to embrace it.
This change could influence other institutional investors to reconsider their stance, potentially driving greater adoption and price stability for Bitcoin in the long term.