Larry Fink (래리 핑크), CEO of BlackRock, said concerns about excessive leverage in the bitcoin market have eased significantly compared with the past.

On July 15, blockchain media outlet U.Today reported that in a CNBC interview, Fink said bitcoin has shown a more stable trend around its current price level after speculative positions were cleared.

Fink has long warned about leverage structures in crypto markets, including bitcoin. "I have always worried about leverage in the bitcoin and crypto market," he said, calling excessive borrowing a key driver of market instability.

He said market structure has changed significantly in recent months. With leverage and speculative positions cleared out once, he said bitcoin is now more stable at current price levels than before. Fink suggested that shrinking leverage and liquidating speculative positions matter more to restoring market stability than short-term price swings.

The interview focused more on artificial intelligence than on crypto. Fink said demand for computing infrastructure still exceeds supply and warned the United States could fall behind in the area. He said he is very optimistic about the market outlook over the next 12 months.

He also said AI use inside BlackRock is leading to improved profitability. Fink said BlackRock's margin improved by 260 basis points over the past 12 months, driven by expanded use of technology. He said AI has enabled the company to process more trades and tasks.

He has previously been sceptical about crypto, and in 2017 criticised bitcoin as an "index of money laundering". He shifted his stance in 2023. Asset manager BlackRock pursued the launch of a spot bitcoin exchange-traded fund, and Fink called bitcoin an "international asset". He later said bitcoin could serve as a hedge against currency debasement, describing it as "digital gold" and a portfolio diversifier.

The remarks show Fink's view of bitcoin has moved beyond scepticism to assessing market structure and its role as an asset. Market attention is expected to focus on how his stability assessment affects bitcoin investor sentiment and institutional fund flows.