BlackRock CEO "Anonymous sovereign wealth funds are buying Bitcoin... U.S. could fall behind"

Larry Fink, BlackRock's Chief Executive Officer (CEO), said on the 4th (local time) that "sovereign wealth funds that requested anonymity are buying Bitcoin (BTC) during the recent downturn."

Fink made the remarks while attending the '2025 DealBook Summit' hosted by The New York Times (NYT) in New York, U.S. He said, "Several sovereign wealth funds are waiting (to buy Bitcoin)," and "(They) are gradually buying as the price fell from the high of $126,000."

Fink emphasized, "(Those sovereign wealth funds) were buying more when Bitcoin remained in the $80,000 range." Fink said, "They are building long positions, and this is not a short-term investment," adding, "They hold with a purpose and for the long term." He added, "But the market is skewed, and volatility will continue due to high leverage." U.S. Forbes reported, "(Fink's remarks) pointed to Bitcoin's price movements that swung sharply and plunged twice since October."

He also made policy recommendations to the U.S. government. Fink said, "If the United States does not invest sufficiently and more quickly in tokenization and digitization, other countries will get ahead of the U.S." Forbes said, "This is consistent with U.S. President Donald Trump's warning last month that 'China is trying to become the global capital of cryptocurrencies.'"

Fink also likened Bitcoin to an 'asset of fear.' He said, "People buy Bitcoin when physical safety or financial safety is uncertain," and "In the long term, they hold Bitcoin to guard against the devaluation of financial assets due to 'financial defects.'"

Meanwhile, Fink recently wrote in a piece for the British weekly The Economist that, "Tokenization is where the Internet was in 1996," and "Tokenization can grow at the same pace as the Internet over the coming decades."