PANews December 5 report, at the DealBook summit, BlackRock CEO Larry Fink stated that Bitcoin is a "panic asset" that people buy out of concern for the devaluation of fiat currencies, financial turmoil, and geopolitical crises. He pointed out that Bitcoin does not belong to traditional "hope-based assets" but is favored during times of increased market uncertainty. Currently, BlackRock's Bitcoin ETF (IBIT) manages approximately 80 billion USD in assets, holding over 780,000 BTC. He also revealed that sovereign funds are quietly increasing their positions at high levels. However, Fink also warned that Bitcoin is highly volatile, easily influenced by leveraged funds, and not suitable for short-term trading.