BlackRock CEO Larry Fink’s Case for Bitcoin

Larry Fink, CEO of BlackRock, recently made a strong case for bitcoin during an interview with Bloomberg at the World Economic Forum in Davos. He speculated on the potential impact if investors allocated 2% to 5% of their portfolios to bitcoin.

> “I was with a sovereign wealth fund during this week and that was the conversation — ‘should we have a 2% allocation, should we have a 5% allocation?’ — if everyone adopted that conversation, it would be $500,000, $600,000, $700,000 per bitcoin,” Fink stated.

He also emphasized that he was not promoting bitcoin, but merely sharing an observation.

Fink’s stance has shifted significantly since 2021 when he reported little demand for digital assets. In 2023, he noted that bitcoin is “digitizing gold” and making crypto more accessible and affordable for investors. BlackRock launched a spot bitcoin ETF, the iShares Bitcoin Trust ETF (IBIT), which is now the largest in the market with nearly $57 billion in assets under management.

The recent election of U.S. President Donald Trump, who has proposed establishing a strategic bitcoin reserve, has coincided with bitcoin hitting an all-time high of over $108,000.

During the interview, Fink highlighted the benefits of bitcoin for individuals living in countries with unstable currencies.

> “If you’re frightened of [the] debasement of your currency, or you’re frightened of your economic or political stability, you can have an internationally-based instrument called bitcoin, that will overcome those local fears,” Fink remarked. “So, I’m a big believer in the utilization of that as an instrument.”

A survey from Bitwise Asset Management found that the percentage of financial advisors providing crypto allocations to their clients increased to 22% in 2024, from 11% the previous year.