From Critic to Advocate: Larry Fink's Transformation Regarding Bitcoin

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During the DealBook Summit 2025 held on December 4th, Larry Fink, CEO of BlackRock, publicly admitted his radical shift in the evaluation of Bitcoin. What is particularly noteworthy is how this evolution starkly contrasts with his previous positions in the industry.

The Change in Perspective: From Skepticism to Adoption

Just a few years ago, Fink heavily criticized Bitcoin, calling it a tool for “money laundering” in 2017. However, starting from 2021-2022, his view began to transform after dialogues with industry experts that allowed him to better understand the fundamentals and potential applications of the cryptocurrency.

This evolution was neither immediate nor superficial. Fink explained how his conversations with industry experts led to a profound conceptual change, prompting him to recognize substantial use cases and genuine future opportunities within the Bitcoin ecosystem.

BlackRock and the Bitcoin ETF: Tangible Reflection of the Change

The shift in Larry Fink’s stance is reflected in the most evident strategic decision: BlackRock now manages the world’s largest Bitcoin ETF. For Fink, this position is not just another financial product but a clear and concrete manifestation of his ideological transformation regarding digital assets.

This move positions BlackRock as a key player in the institutionalization of Bitcoin, demonstrating how leading asset management firms are recognizing the importance of the cryptocurrency market. The leadership in this ETF represents both a business bet and a validation of the maturing Bitcoin market.

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