BlackRock CEO Calls Crypto an ‘Asset of Fear’ Do Other Experts Agree?

When BlackRock CEO Larry Fink recently described crypto as an “asset of fear,” it caught attention across both Wall Street and the crypto world. At first glance, the phrase sounds dismissive. But dig a little deeper, and it reflects how many institutional investors actually view Bitcoin and crypto today not as a replacement for stocks or bonds, but as a hedge against uncertainty.

Fink’s point is that crypto often attracts buyers during moments of stress: inflation scares, currency debasement, geopolitical tension, or distrust in governments and banks. In that sense, crypto behaves less like a growth asset and more like digital gold. People don’t rush into Bitcoin because times are good; they do it because they’re worried about what might break next.

Interestingly, many experts agree with this framing though they don’t see it as a weakness. Macro investors like Paul Tudor Jones and hedge fund managers have openly said Bitcoin works best as insurance against policy mistakes. Even central banks quietly acknowledge crypto’s appeal in countries facing capital controls or unstable currencies.

Critics, however, argue that fear alone isn’t enough to sustain long-term value. They point out that crypto still struggles with volatility, regulation, and real-world usage beyond speculation.

The reality likely sits in the middle. Crypto is an asset of fear but fear, in global markets, isn’t going away. As long as uncertainty remains a feature of the financial system, crypto’s role as a hedge may keep growing, not shrinking.