Larry Fink, CEO of BlackRock, the largest investment firm with assets under management totaling over $13 trillion, once again attracted the attention of the crypto community after his speech at the Future Investment Initiative conference in Riyadh.
Fink named cryptocurrencies, in particular Bitcoin, and gold as a hedge against the ongoing devaluation of fiat currencies by governments around the world.
«If you believe countries will continue to devalue their currencies, then owning crypto assets or gold is a fear asset. You own these assets because you’re afraid of devaluation and worried about your financial security. And there’s a strong belief that crypto assets and gold are a good hedge against optimism,» Fink said.
Interestingly, just a few years ago, BlackRock’s CEO was a vocal opponent of cryptocurrencies and called Bitcoin the currency of «money launderers and thieves.»
Fink praised BTC throughout 2025. In August, he stated that Bitcoin is «currency depreciation insurance.» This statement coincided with the fact that ETF-iShares fund Bitcoin BlackRock’s IBIT Trust (IBIT) has surpassed 781,000 BTC in assets, becoming the second-largest holder of Bitcoin in the world.
The speed at which BlackRock amassed its assets shocked many. The company overtook Strategy, which was accumulating Bitcoin Five years, in just 18 months. Since May, IBIT’s inflow has consistently outpaced that of major retail platforms.