BlackRock CEO Calls Digital Assets A Modern Gold Alternative

• BlackRock CEO, Fink, compares crypto to gold, calling it an alternative store of value.
• Larry Fink says institutions now add digital assets to broader diversification plans.
• Fink notes digital assets need careful allocation due to volatile market swings.

BlackRock CEO Larry Fink used a 60 Minutes appearance to outline how digital assets now are similar to traditional assets. The interview focused on how investment habits are changing across retirement accounts and institutional strategies. Fink spoke directly about Bitcoin and broader crypto debates that have changed over the past decade.

Crypto Seen similar to Gold

Fink told interviewer Lesley Stahl that his earlier view of Bitcoin as a space dominated by illicit activity has changed. He said markets support the need to reassess assumptions as adoption increases. 

According to remarks noted by Ash Crypto on X, he now sees a clear role for digital assets as an alternative, similar to gold. He emphasized that neither gold nor crypto serves as a replacement for currency. 

Instead, both operate as stores of value outside government-backed financial systems. Fink noted that investors historically turned to gold during economic stress. Crypto, he added, has emerged as a newer hedge with higher accessibility and easier trade execution.

This comparison shows a growing acknowledgment that alternative assets can provide insulation from market shocks. He pointed out that accessibility allows more participants to adopt without physical constraints tied to bullion markets.

Institutional Engagement and Strategy

BlackRock, which oversees $12.5 trillion, has already included crypto exposure in select products. Fink referenced that development to illustrate why institutions are paying attention. The firm’s stance shows that digital assets are part of longer-term portfolio planning rather than limited speculative plays.

In the same interview, he discussed calls to expand retirement account options. He pointed to private markets such as AI and data infrastructure as areas now opening to 401(k) plans following regulatory changes under the Trump administration. He argued that diversification benefits outweigh the discomfort associated with unfamiliar asset classes.

His explanation linked that view to crypto as well. He stated that investors looking to reduce reliance on stocks and bonds now examine digital instruments alongside metals and private placements. Banks, hedge funds and pension managers are exploring structured exposure to support diversification goals.

This shift, he said, does not remove risk. Instead, it reframes how different assets contribute to broader strategies during volatility.

Volatility and Limits Acknowledged

Fink cautioned that digital currencies should not dominate portfolios. He stated directly that they function best as a smaller component rather than a core holding. He cited wide price swings and changing regulation as reasons for measured allocation.

He also clarified that not every project will maintain value over time. That point supported the need for disciplined selection and constant review. His stance aligned with guidance often used for alternative investments where liquidity and oversight differ from public markets.

He added that technology trends and market sentiment move faster in digital assets than in established sectors. That pace can create fast drops that require investor preparedness and tolerance. He suggested that risk does not disqualify the category but demands a structured approach similar to other emerging markets.

Related: Investors Turn to Bitcoin and Gold as U.S. Debt Nears $38T

Broader Context From the Interview

Fink highlighted that many investors feel disconnected from economic growth. He argued that broader participation through diversified products could rebuild trust in capitalism. His annual letter has addressed that issue and the interview reiterated the same point.

He said limiting retirement accounts to traditional assets blocks exposure to areas where growth is accelerating. The mention of private equity alongside crypto showed how alternative assets now are within mainstream planning. He pointed to updated policies that allow firms to include once restricted holdings in retirement means.

Lesley Stahl pressed him on the potential risk to retirement savings. He responded that any investment carries risk except cash held overnight. He said long-term horizons and diversified mixes historically weather downturns if investors remain consistent.

His remarks tied that logic to crypto by placing it in the same framework as private market entries and commodity hedges. The description of gold as a longstanding refuge helped contextualize his comparison.

Meanwhile, Fink’s comments laid out a clear distinction between core holdings and strategic alternatives. His comparison of digital assets to gold established how some investors now view value protection across different market conditions. By linking crypto to diversification and institutional planning, he outlined why interest has expanded beyond early adopters.