Crypto Is Edging Further Into Mainstream Finance, BlackRock and Coinbase Chiefs Say

first published 2025-12-03T18:30:08Z

At the NYT DealBook Summit BlackRock CEO Larry Fink said he was wrong about Bitcoin and now views it as a meaningful hedge and “an asset of fear” for long-term portfolio insurance. He cautioned Bitcoin remains volatile and driven by leveraged players. Fink attributed the shift to client conversations and talks with policymakers; BlackRock already offers crypto products including a major Bitcoin ETF and is pursuing asset tokenization. Coinbase CEO Brian Armstrong said Bitcoin has “no chance” of going to zero.

AI Analysis

Fink publicly reversed his prior criticism and described Bitcoin as a hedge and “an asset of fear,” which is a bullish institutional endorsement; he also warned of volatility and leverage, tempering the view. BlackRock’s existing crypto products including a major Bitcoin ETF and its tokenization efforts make the shift relevant to flows, but the story is opinion-driven rather than a concrete market action, so impact is moderate.

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