Formerly Skeptical BlackRock CEO Touts Bitcoin as ‘Digital Gold’

BlackRock CEO Larry Fink, once a skeptic, now sees Bitcoin as ‘digital gold’ and a potential revolution in finance.

A human hand holding bitcoins.
  • BlackRock CEO Larry Fink endorses Bitcoin as ‘digital gold.’
  • Fink’s shift in perspective signals a potential revolution in finance.
  • BlackRock’s influence could make crypto transactions more accessible and affordable.

In a significant shift from his earlier skepticism, BlackRock CEO Larry Fink has recently touted Bitcoin as ‘digital gold,’ signaling a potential revolution in finance. 

This endorsement from one of the world’s most influential financial figures could have far-reaching implications for crypto’s role in the global economy.

Fink’s Endorsement of Bitcoin

In a Wednesday, July 5 interview, Larry Fink, CEO of BlackRock, the world’s largest asset manager, made its case for Bitcoin. He described Bitcoin as “digital gold” and emphasized its potential as an international asset. He also expressed his belief that Bitcoin has the power to “revolutionize” finance. 


Fink has also spoken about BlackRock’s aim to make cryptocurrency transactions more accessible and affordable for investors. He stated, “What we’re trying to do with crypto is make it more democratized with all of crypto and much cheaper for investors.” 

Concerning BlackRock’s recent Bitcoin ETF filing, Fink has expressed his hope that regulators will see these filings as a way to democratize crypto.

This endorsement marks a significant shift from his earlier skepticism towards cryptocurrencies. Earlier, Fink had expressed mixed views about Bitcoin and other crypto assets. While he acknowledged the growing interest in digital currencies, he also voiced concerns about their volatility and regulatory issues.


Fink’s endorsement of Bitcoin as ‘digital gold‘ is a strong signal to investors and the financial industry. It suggests a growing acceptance of crypto as legitimate assets, akin to traditional safe-haven assets like gold.

BlackRock’s Bitcoin ETF Filing: A Game Changer?

In mid-June 2023, BlackRock, the world’s largest asset manager, filed for a Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The Bitcoin ETF would allow investors to gain exposure to Bitcoin without buying the crypto directly.

Since the filing, Bitcoin has seen strong performance, rallying from $25,126.4 on June 15, 2023, to $30,513.0 by July 6, 2023. The rally is likely due to the market’s anticipation of more institutional investment in crypto. 

BlackRock’s ETF filing has spurred other firms to file or refile for spot products amid market optimism. This includes firms like Fidelity and Invesco, signaling a broader shift in the financial industry’s attitude towards Bitcoin.

On the Flipside

  • The SEC has rejected every attempt to register a spot Bitcoin ETF, including BlackRock’s prior filings. 
  • While institutions are warming towards Bitcoin, other crypto tokens are not so lucky. Due to SEC scrutiny, altcoins like Solana, Cardano, and others face delisting from trading platforms like Robinhood

Why This Matters

BlackRock’s Bitcoin ETF filing represents a significant step towards the mainstream acceptance of Bitcoin as an investment asset.

Read more about BlackRock’s Spot Bitcoin ETF Filing: 

Understanding BlackRock’s Bitcoin Proposal: ETF, Trust, or Something Else?

Read more about Coinbase’s legal battle with the SEC: 

Coinbase Looks to Polarizing Supreme Court to Rein in SEC

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

David Marsanic

David Marsanic is a journalist for DailyCoin who covers the intersection of crypto, traditional finance, and government. He focuses on institutionalized crypto entities like major cryptocurrency exchanges and Solana, breaking down complex topics into easy-to-understand writing. David's prior experience as a business journalist at various crypto and traditional news sites has enabled him to maintain a critical approach to news while adhering to high journalistic integrity standards.