BlackRock CEO Fink bullish on markets as bitcoin steadies

BlackRock CEO Larry Fink told an interviewer on July 15 that he is very bullish on markets for the next 12 months, pointing to technology-driven productivity and margin expansion as the main drivers of his outlook.

Fink said he expects a wave of technological improvements to lift corporate margins and profits. “I’m very bullish on the markets over the next 12 months. I think the technological revolution is going to power better margins for more companies,” he said.

BlackRock’s recent results illustrate the trend Fink described. The firm reported a 260 basis-point rise in margins over the past year and added about $1 trillion in assets under management without increasing headcount. He noted technology has allowed the firm to process more trades, run operations more efficiently and use AI to accelerate code production alongside developers.

On leverage, Fink contrasted current conditions with those before the 2008–2009 financial crisis, saying overall leverage in markets today is much lower. He said, “There’s not that much leverage compared to 2008 and 2009,” while also warning that concentrated pockets of risk could remain.

Turning to bitcoin and the wider cryptocurrency market, Fink highlighted a recent washout of excessive borrowing and leveraged positions. He described earlier crypto cycles as having too many highly leveraged participants, and said repeated liquidation events forced some exchanges to close overextended long positions. Futures open interest has fallen and many traders have shifted from high-leverage perpetual contracts to options for greater downside protection.

Fink added that the reduction in leverage has lowered market risk and volatility without predicting specific price moves for bitcoin. “I was always worried about the leverage in bitcoin and crypto. There were too many leveraged players in it. That’s why we had to wash out, and I think there’s more stability at these levels,” he said. He emphasized that reduced borrowing supports a steadier market structure but did not claim leverage or volatility have disappeared entirely.