Larry Fink, chairman and CEO of BlackRock Inc. (NYSE: BLK), the world’s largest asset manager, sought advice from Michael Saylor, co-founder of Strategy (Nasdaq: MSTR), when Bitcoin was nearing the bottom of its last bear market.
Speaking in an interview, Fink recalled his meeting with Saylor who visited his office “when his stock was in the teens” to make the case for Bitcoin. “He was a huge believer in it that transformed his company,” said Fink.
Strategy’s stock has not traded below $20, adjusted for splits, since October 2020, and a few months after the company acquired Bitcoin for the first time.
Since then, Saylor has transformed the firm into the world’s largest corporate holder of Bitcoin, a title it has held as it continued to accumulate throughout both bull and bear markets without ever selling. Publicly, he has made claims that Bitcoin could eventually hit $13 million per coin by 2045.
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BlackRock’s Bitcoin ETF becomes $86B beast
BlackRock’s Bitcoin exchange-traded fund, the iShares Bitcoin Trust ETF (IBIT), is worth $86 billion, Fink underlined.
CEO of BlackRock Larry Fink speaks during the 2025 Atlantic Council Global Citizen Awards event on the sidelines of the United Nations General Assembly in New York City on September 24, 2025.
“Fast forward now, a little more than 18 months since we first started creating a Bitcoin ETF, today IBIT is $86 billion,” Fink said in the interview.
As per SoSoValue, IBIT has $84.35 billion in net assets as of Sep. 25.
Fink, a relatively latecomer to the Bitcoin camp, has become increasingly bullish. In a previous interview, he forecasted that Bitcoin could reach as high as $700,000 if institutional portfolios dedicated between 2% and 5% to the asset.
“If you’re frightened of the debasement of your currency, or you’re frightened of the economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will overcome those local fears. I’m, I’m a big believer in the utilization of that as an instrument.”
While emphasizing that he was not ”promoting” Bitcoin, Fink said that sovereign wealth funds and other large investors had been asking serious questions and reevaluating their strategies regarding Bitcoin.