Bitcoin News Today: BlackRock Elevates Bitcoin to Portfolio Pillar, Mirroring Gold's Role

BlackRock Inc. CEO Larry Fink has shifted his stance on Bitcoin, acknowledging the cryptocurrency's legitimacy as an alternative asset akin to gold. In a recent interview with CBS's 60 Minutes, Fink reversed his earlier skepticism, stating that Bitcoin now plays a role in portfolio diversification similar to traditional safe-haven assets, according to The Crypto Basic. This marks a significant evolution from his 2017 criticism, when he described Bitcoin as an "index of money laundering." Fink emphasized that while Bitcoin offers diversification benefits, it should remain a modest portion of a diversified portfolio.

BlackRock's iShares Bitcoin Trust (IBIT), launched in 2024, has become a pivotal vehicle for institutional and retail adoption. As the world's largest asset manager, overseeing $12.5 trillion in assets, BlackRock's entry into the crypto space has driven Bitcoin ETF inflows to record levels. By October 2025, IBIT had amassed $93.9 billion in assets and held over 804,000 BTC—roughly 3% of Bitcoin's total supply—positioning it as the largest Bitcoin ETF. Notably, half of IBIT's demand has come from retail investors, with three-quarters of these investors previously uninvolved in iShares products, as reported by The Crypto Basic.

Fink's endorsement aligns with broader institutional adoption trends. Public and private entities, including MicroStrategy, Tesla, and Robinhood, have accumulated significant Bitcoin reserves. Collectively, ETFs, corporations, and public organizations now hold over 1.65 million BTC, or 10% of Bitcoin's circulating supply. This institutional concentration has raised questions about decentralization but also signals growing market stability, The Crypto Basic noted.

The U.S. re-election of President Donald Trump in January 2025 accelerated institutional adoption, with policy shifts fostering a warmer regulatory climate. By October 2025, U.S. spot Bitcoin ETFs had attracted over $11 billion in inflows in three months alone. BlackRock's IBIT led this trend, recording $899.42 million in inflows on October 7, 2025, as Bitcoin price approached $126,500—a new all-time high. The ETF's total assets under management neared $100 billion, reflecting Bitcoin's integration into traditional finance.

Bitcoin's role as a hedge against macroeconomic risks has gained traction. Fink described Bitcoin as a "currency of fear," noting its appeal during periods of currency debasement or geopolitical uncertainty. This aligns with BlackRock's long-term investment philosophy, which now includes Bitcoin as a strategic asset. Institutional ownership of Bitcoin ETFs reached 22.9% of total ETF assets by Q1 2025, with investment advisors and family offices increasing exposure.

Retail adoption has also surged, particularly in emerging markets and among younger demographics. Global crypto ownership reached 560 million people in 2024, with projections of 1.1 billion by 2030. In the U.S., 14.3% of Americans own Bitcoin, and 55% of those aged 18–34 plan to buy it in 2025. This trend underscores Bitcoin's transition from speculative asset to mainstream financial tool.

Geopolitical developments further validate Bitcoin's institutional acceptance. The U.S. established a Strategic Bitcoin Reserve in March 2025, while states like Texas and Arizona expanded their BTC holdings. Globally, countries including Bhutan, El Salvador, and Japan are exploring Bitcoin as part of sovereign reserves. These moves reflect a broader reclassification of Bitcoin as a strategic asset rather than a speculative trade.

BlackRock's influence extends beyond ETFs. Fink's public alignment of Bitcoin with gold signals a generational shift in portfolio theory, redefining Bitcoin's role as a benchmark for wealth preservation. This narrative is reinforced by sustained inflows into ETFs and the growing integration of Bitcoin into traditional financial frameworks, as reported by Benzinga.