
Larry Fink revealed sovereign funds bought Bitcoin during major price dips and stressed their multi-year investment horizon rather than short-term trading moves.
At the NYT DealBook Summit, BlackRock CEO Larry Fink admitted his earlier opposition to Bitcoin was misguided and disclosed that sovereign funds purchased Bitcoin when prices fell to $120,000, $100,000, and $80,000. He emphasized these funds adopt a long-term investment outlook, not short-term trading strategies. This revelation aligns with BlackRock’s current promotion of the iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF, and underscores growing institutional confidence in digital assets.