Larry Fink, CEO of BlackRock, famously regarded as the world’s largest asset manager with over $13 trillion in assets under management, made headlines on October 28, 2025, during a panel at the Future Investment Initiative in Riyadh, Saudi Arabia. 

In his statement, Fink tagged cryptocurrencies, particularly Bitcoin, and gold as a hedge against ongoing fiat currency debasement by governments worldwide.

Larry Fink moves on from crypto skepticism 

Larry Fink may be bullish about BTC now, but he used to be one of its strongest skeptics. Way back in 2017, he summarily dismissed the token as a currency for “money launderers and thieves.” 

During the discussion in Saudi Arabia, Fink said: “If you believe that countries are going to continue to debase their currency, owning crypto assets or gold are assets of fear. You own these assets because you’re frightened of the debasement, you’re worried about financial security. And between crypto assets and gold, there’s a strong belief that they are a good hedge against optimism.” 

Fink has highlighted tokenization and artificial intelligence as the two megatrends with the highest potential to alter the future of finance in the past. The gallery is reading Fink’s positive sentiments toward tokenization, a crypto-linked market, as overall approval for digital assets. 

Comments under the footage posted on X alluded to the fact that since Fink of BlackRock continues to endorse BTC, it really must be that valuable. “Larry Fink preaching Bitcoin now is wild, man went from ‘crypto is sketchy’ to ‘crypto is salvation’ faster than governments print money,” one user wrote.

Others have noted that the comments could signal more institutional inflows, which analysts believe could push Bitcoin back to all-time levels.

BlackRock is confident in Bitcoin as a digital store of value

Fink has praised BTC for most of this year. In August 2025, he reiterated Bitcoin’s role as a “hedge against currency debasement,” a statement that coincided with BlackRock’s iShares Bitcoin Trust (IBIT) ETF surpassing 781,000 BTC in holdings and becoming the second-largest Bitcoin holder globally. 

The rapid rate at which BlackRock has accumulated its stash has shocked many. The firm overtook Strategy’s five-year head start in just 18 months. Since May, inflows into IBIT have consistently outpaced holdings on major retail platforms.

Fink’s comments this year regarding crypto explain why BlackRock chose to aggressively expand into digital assets. The firm’s spot Bitcoin ETF was launched in early 2024 and has since amassed billions in inflows and helped make mainstream crypto more attractive for institutional investors. 

He has also predicted that Bitcoin has the potential to hit $700,000 long term, influenced not just by macroeconomic fears but also by the frenzy of public companies snapping up BTC and effectively removing the purchased supply from circulation. 

In that scenario, the accumulation could trigger a supply shock, which when combined with sustained demand, could strengthen the asset’s price floor. Bitcoin inched as high as $114,000 in the new week as traders positioned with caution ahead of a Federal Reserve meeting expected to deliver the second rate cut of the year. Meanwhile, the broader crypto market fell lower, with other major tokens noting a mild decline.

Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.