Larry Fink, CEO of BlackRock, recently stated that Bitcoin is an ‘asset of fear’ during a DealBook Summit speech, revealing shifting institutional views on cryptocurrency. Fink’s statement coincides with increased consideration for cryptocurrencies by institutions seeking to diversify portfolios and hedge against economic uncertainty. This shift marks a significant change from previous skepticism regarding Bitcoin’s role as a safe haven asset. BlackRock has substantial Bitcoin holdings worth over $65 billion, indicating a broader trend among major asset managers to incorporate crypto into investment strategies. The impact of Fink’s remarks on market perceptions is clear: institutional investors are increasingly viewing Bitcoin as a financial safeguard.