In November 2025, BlackRock CEO Larry Fink confirmed that Bitcoin is not being used or considered for global payments infrastructure by the firm's clients, emphasizing its primary role as a digital gold and store of value. Fink stated, "Bitcoin is increasingly being viewed as a digital gold and a store of value, not as a payments network. Our clients are investing in Bitcoin for diversification and long-term appreciation, not for its utility in global payments."
This stance was echoed by BlackRock President Rob Kapito and head of digital assets Robbie Mitchnick, who noted in a podcast that clients are not "underwriting to that global payment network case" and view it as "a little bit more speculative." Mitchnick highlighted that for Bitcoin to achieve widespread payment use, significant scaling improvements through technologies like the Lightning Network are necessary, but stablecoins have already demonstrated massive product-market fit in payments, with potential for expansion into retail remittances and cross-border transactions.
ARK Invest CEO Cathie Wood supported this view, adjusting her 2030 Bitcoin price prediction downward due to stablecoins "scaling faster" than expected and usurping roles she once attributed to Bitcoin. Tether co-founder Reeve Collins projected that all currency could become stablecoins by 2030, reinforcing the shift toward on-chain finance.
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