BlackRock (BLK) CEO Larry Fink writes in his latest letter to shareholders that Bitcoin (BTC) could eventually threaten the U.S. dollar’s status as the world’s reserve currency.
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“The U.S. has benefited from the dollar serving as the world’s reserve currency for decades,” wrote Fink in his latest letter. “But that’s not guaranteed to last forever … If the U.S. doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin.”
Fink’s 2025 letter comes at a time of high market uncertainty and anxiety among investors about the economic state of the U.S. and amid policy changes under U.S. President Donald Trump. The CEO of BlackRock, the world’s largest investment firm with more than $10 trillion of assets under management, said investors should diversify their portfolios.
Tokenization
Looking ahead, Fink expects cryptocurrencies and other digital assets to continue rising in popularity. He said that tokenized funds are likely to become as well-known as exchange-traded funds (ETFs), provided that the industry can create a better infrastructure for digital identities.
“Every stock, every bond, every fund— every asset—can be tokenized. If they are, it will revolutionize investing,” he wrote in the letter. BlackRock’s iShares Bitcoin Trust (IBIT) is the most successful ETF in history with nearly $50 billion of assets, about half of which has come from retail investors. The stock of BlackRock has risen 19% over the last 12 months.
Is BTC a Buy?
Most Wall Street firms don’t offer ratings or price targets on Bitcoin, so we’ll look at the cryptocurrency’s three-month performance instead. As one can see in the chart below, the price of BTC has declined 14.80% in the last 12 weeks.
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