BlackRock CEO Larry Fink speaks of Bitcoin. "This is the asset class that protects you"

In a notable statement, BlackRock CEO Larry Fink expressed a positive view of Bitcoin during an interview with CNBC today, asserting that Bitcoin is “an asset that protects you.”

“I believe that if the world gets scared, if people are afraid of geopolitical risk and if they are afraid of their own risk, it will rise,” Fink said. “It’s no different from what gold has stood for for thousands of years: it’s an asset class that protects you.”

Fink’s recognition of Bitcoin as a protected asset means he is helping to change the narrative surrounding the digital currency, emphasizing its role as a safeguard amid economic uncertainty. This approval from the head of the world’s largest asset management firm is a significant milestone in Bitcoin’s acceptance in mainstream finance.

“Unlike gold, where we produce new gold, we have almost reached the limit of the amount of Bitcoin we can create,” Fink continued. “What we’re trying to do is give people the tools to store their wealth.”

This statement comes two days after the U.S. Securities and Exchange Commission (SEC) approved BlackRock, along with 10 other asset managers, as a Bitcoin ETF. Fink’s positive sentiment adds to the chorus of influential figures who recognize Bitcoin’s potential to play a protective role in investment portfolios.

As the Bitcoin market continues to develop, statements like these from key industry figures contribute to forming a positive narrative around Bitcoin, potentially influencing broader market sentiment and paving the way for increased adoption.