BlackRock CEO Larry Fink Calls Bitcoin a “Hedge Against Debasement” as IBIT Crosses 781,000 BTC

BlackRock CEO Larry Fink has again reaffirmed his bullish stance on Bitcoin, calling it a “currency of fear” and a modern form of “digital gold.”

In an interview at Legends Live @Citi, Fink outlined how tokenization and artificial intelligence stand as the two megatrends that will reshape the future of finance, while also sharing his personal journey from skeptic to believer in Bitcoin.

Fink that when he first spoke about Bitcoin back in 2017, he dismissed it as a currency for “money launderers and thieves,” recalling his remarks on a panel alongside JPMorgan’s Jamie Dimon.

The BlackRock CEO said that during COVID, he explored BTC and met with people using Bitcoin in extraordinary ways.

He gave the example of a woman in Afghanistan who paid female workers with Bitcoin, bypassing Taliban restrictions. The encounter opened Fink’s eyes to BTC’s real-world utility.

Fink explained that his shift in perspective was not about Bitcoin replacing fiat currencies, but rather its role as a store of value.

He said that he doesn’t see Bitcoin becoming a currency, but added that it has a role, much like digital gold. People buy it out of fear.

Fink noted that the fears of currency debasement or of instability in a country are powerful narratives that give Bitcoin legitimacy.

BlackRock made history in the Bitcoin market with the iShares Bitcoin Trust (IBIT), launched in January 2024, growing to become the second-largest holder of Bitcoin worldwide, behind only the mysterious creator, Satoshi Nakamoto.

According to , IBIT now controls more than 781,000 BTC, valued at around $88 billion at current prices.

BlackRock is now ahead of major exchanges such as Coinbase (703,000 BTC) and Binance (558,000 BTC), as well as surpassing Strategy, which holds about 629,000 BTC.

The speed of accumulation has stunned the market as well. BlackRock managed to overtake Strategy’s five-year head start in just 18 months. Since May 2025, inflows into IBIT have consistently outpaced holdings on major retail platforms.

Unlike exchange reserves, which are often recycled for trading, the ETF’s structure effectively removes Bitcoin from circulation. This creates a supply shock that, combined with sustained demand, strengthens the asset’s price floor.