Is Bitcoin becoming a global safe haven for funds? Digital gold in the eyes of JPMorgan, BlackRock, and billionaires

In recent years, Bitcoin has gradually entered the public eye, becoming a safe-haven asset for many investors or institutions seeking to hedge against traditional market risks. However, whether Bitcoin is a safe-haven asset or a speculative asset can vary depending on different perspectives. In the eyes of capital giants, Bitcoin is a refuge for funds; while for ordinary people, Bitcoin seems more like a speculative commodity.

Former U.S. President Donald Trump has frequently expressed support for Bitcoin and cryptocurrencies. Notable figures such as JPMorgan Chairman Jamie Dimon, billionaire Mark Cuban, and Larry Fink of BlackRock have also "advertised" Bitcoin, unanimously expressing optimism about Bitcoin (BTC), believing it to be a safe haven for funds and digital gold.

JPMorgan Chairman Jamie Dimon

On July 17, according to Bitcoin Magazine's news on X platform, Donald Trump stated that JPMorgan Chairman and CEO Jamie Dimon suddenly changed his stance against Bitcoin. Trump is considering nominating JPMorgan CEO Jamie Dimon for the position of Treasury Secretary and mentioned that he has changed his view on Bitcoin and cryptocurrencies.

Billionaire Mark Cuban

On July 17, billionaire and well-known investor Mark Cuban posted on social media, stating: "As geopolitical uncertainties increase and the dollar's status as a reserve currency declines, BTC will become a global safe haven. This means BTC may become an asset that countries and each of us wish to purchase to protect our savings."

He added that Silicon Valley's support for former President Trump is actually for the potential appreciation of Bitcoin, as Trump's policies could lead to lower taxes and tariffs. Coupled with global geopolitical uncertainties and the decline of the dollar as a reserve currency, these factors may drive Bitcoin to become a global "safe-haven" asset, further boosting its price.

Regarding how high it can rise, Mark Cuban stated that the price of BTC will be much higher than imagined. Because the BTC market is global, its supply is ultimately limited to 21 million BTC, and it can be infinitely divisible.

BlackRock CEO Larry Fink

On July 17, BlackRock CEO Larry Fink referred to Bitcoin as "digital gold" during a live broadcast on CNBC. He stated that he had been skeptical about Bitcoin for five years, which was a mistake, but he has studied the issue and is now a public supporter.

He mentioned that Bitcoin is a mature financial asset, a legitimate financial instrument that can hedge against depreciation risks, especially in high-inflation countries. Bitcoin has a place in financial portfolios. Fink believes that many people still miss and do not understand Bitcoin as an asset.

After calling Bitcoin "worthless" in October 2021, BlackRock co-founder Larry Fink admitted on CNBC that his view on Bitcoin was wrong. His remarks during the CNBC interview resonated with Dell Technologies CEO Michael Dell, who not only shared the content but also stated, "Bitcoin is fascinating."

BlackRock's assets under management (AUM) exceed $10.6 trillion, a 13% increase from the previous year, and they view ETFs as a driving force behind their success. Their spot BTC ETF (IBIT) holds over 300,000 BTC, valued at nearly $20 billion. On July 18, it was reported that BlackRock's IBIT increased its holdings by 4,005 BTC (+$260 million), currently holding 322,125 BTC (approximately $20.95 billion).

From the above, it is evident that Bitcoin's position in the global investment community is becoming increasingly important. The support from these financial giants undoubtedly injects more confidence and recognition into Bitcoin. In the future, Bitcoin's role in the global market may be further strengthened. With its limited supply and digital scarcity, Bitcoin will become an important tool for protecting funds and combating inflation.