Part 4/12:
He viewed Bitcoin as a rebellious outsider—decentralized, unregulated, and disruptive—an existential threat to institutions like BlackRock which thrive on control and regulation. His stance created a formidable firewall around institutional adoption; for years, “the wall” separating traditional finance from crypto seemed immovable.
Cracks Begin to Form
The narrative started shifting surprisingly from within. BlackRock’s clients—major pension funds, sovereign wealth funds, and insurance giants—began asking about Bitcoin, not as a speculative toy but as a potential hedge against the economic turmoil of the times.