Larry Fink, CEO of BlackRock, Warns of Potential 20% Market Decline

Larry Fink, the CEO of BlackRock, suggests that the market may still experience a further decline of around 20%.

His remarks come in the wake of a market crash that has seen stock prices tumble for over 30 consecutive days. The cryptocurrency sector has also faced significant losses in recent weeks, with Bitcoin (BTC) falling below $80k to levels not seen since early November 2024.

Nonetheless, during an interview with Bloomberg TV, Fink expressed the view that the downturn presents a buying opportunity.

“I see it more as a buying opportunity than a selling opportunity, but that doesn’t mean we can’t go down further…I would not be taking money off the table right now. It’s a great entry level,” he stated.

According to Fink, the macroeconomic trends remain stable and are unlikely to change. This suggests potential opportunities in technology innovation, artificial intelligence, and other U.S. sectors. He anticipates a potential rally in cryptocurrencies following the substantial market drop.

Earlier during the U.S. trading session, stocks experienced an uptick, and Bitcoin briefly climbed above $81k based on what turned out to be false information. Prominent accounts on X claimed that the White House was contemplating a 90-day suspension on tariffs. The S&P 500 surged on this news, as did cryptocurrencies, only for the markets to relinquish those gains upon the realization that the information was “fake.”

Fink also weighed in on the possibility of a rate hike in light of the current market conditions, stating that the Federal Reserve might still consider this option. Notably, he mentioned that many of the other CEOs he has consulted believe we are currently in a recession.

As of this writing, Bitcoin is trading around $78k and remains largely negative following the volatility of recent days.