BlackRock, a $9 trillion asset manager, has highlighted Bitcoin as a hedge against global disorder and geopolitical uncertainty. The firm described Bitcoin as a global monetary alternative as there is a declining trust in governments, banks, and fiat currencies. Following the launch of its Bitcoin ETF, Bitcoin surged to an all-time high of $73,000 in March 2024. BlackRock's Jay Jacobs stated, "it has high volatility and behaves a bit differently than stocks and bonds".