Part 9/12:
The impact was nothing short of revolutionary. IBIT launched with a meteoric rise, surpassing $100 billion in assets within months—faster than any previous ETF. It became the second-largest Bitcoin holder after its own reserves, effectively turning institutional dollars into a tidal wave of capital flooding into Bitcoin.
This capital influx solidified Bitcoin’s status as a legitimate, mainstream asset. Fink’s framing of Bitcoin evolved from a “digital gold” to an “asset of fear,” driven by worries about government debt, inflation, and global instability. He publicly promoted Bitcoin as a safe haven, emphasizing its scarcity and decentralized nature as critical safeguards in uncertain times.