BlackRock CEO: Bitcoin Is “Digital Gold” — Not a Currency

Speaking in an interview with Citi, Fink said Bitcoin carries “legitimacy” through its underlying blockchain technology but compared it to gold rather than money used for everyday transactions.

Bitcoin as a Hedge, Not a Currency

Fink argued that Bitcoin is often bought in times of fear, whether from concerns over currency debasement or national security. In his view, that demand dynamic makes it a “currency of fear,” one that protects wealth rather than circulates like cash.

His comments fit with BlackRock’s broader approach. The firm’s investment philosophy is rooted in long-term positioning, and Fink suggested Bitcoin has earned its place in that framework.

ETF Demand Fuels Bitcoin’s Rise

BlackRock has played a central role in driving institutional adoption. Its spot Bitcoin ETF, IBIT, has become one of the most popular vehicles for exposure to BTC, helping push flows into crypto investment products to record levels. In fact, IBIT recently surpassed Coinbase as the largest single Bitcoin holder.

Bitcoin reached a record $124,128 on Aug. 14 but has since slipped back to around $111,000. The decline follows heavy liquidations and fits a broader pattern: September has historically been a tough month for the asset.

Macro Factors in Play

Still, optimism lingers. If the Federal Reserve follows through with an expected rate cut in September, risk assets could rebound sharply, with Bitcoin well positioned to benefit. For now, the market is consolidating after an extraordinary run, while the world’s largest asset manager continues to frame BTC as a long-term bet — digital gold for the modern era.



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