BlackRock’s Fink Sees Case for Crypto, Gold as ‘Assets of Fear’

BlackRock Inc.’s Chief Executive Officer Larry Fink said investors are flocking to alternative assets like precious metals and cryptocurrencies as they’ve grown increasingly worried about the growing piles of government debt around the world.

“Owning crypto assets or gold are assets of fear,” Fink said at the Future Investment Initiative in Riyadh. “You own these assets because you’re frightened of the debasement of your assets. You’re worried about your financial security. You’re worried about your physical security.”