Chris Curl,
Editor
July 17, 2025
Crazy, isn’t it? Not too long ago, the mainstream thought Bitcoin was a total scam—and now here we are, watching Crypto Week unfold at the White House. So how did we get from ridicule to reserve strategy in just a couple of years?
It all circles back to one name: Larry Fink and BlackRock.
The Moment Everything Changed: July 2023
Looking back, July 2023 was the real turning point. That month, I wrote an article that made a bold call: if Bitcoin ETFs got the green light, we’d be off to the races.
The headline? “BlackRock’s Dramatic Shift: From Calling Bitcoin ‘Worthless’ to Paving the Way for Institutional Investment.” At the time, it felt like a hot take. In hindsight? It was a roadmap.
Larry Fink’s U-Turn
Remember when Larry Fink dismissed Bitcoin as “worthless” and “an index of money laundering”? Yeah, that didn’t age well.
By 2022, BlackRock had already started dipping its toes into crypto—quietly. First, there was the Coinbase Prime integration. Then came the spot Bitcoin trust for institutional clients. And by mid-2023, BlackRock wasn’t just testing the waters—they filed for a spot Bitcoin ETF.
It was a massive signal. The world’s biggest asset manager had gone from doubter to full-on believer. This wasn’t a hedge anymore—it was a strategic bet on crypto’s future.
The ETF Domino Effect
That article in July 2023 made a gutsy prediction: the moment a U.S. spot Bitcoin ETF got approved, a bull market would ignite.
At the time? Bitcoin was around $30,000. But the forecast was sharp—because here’s what happened next:
- Regulatory momentum: BlackRock had a legendary ETF approval record (575 wins, 1 loss). The article pointed that out, and it mattered.
- A rush of competitors: Firms like Fidelity, Invesco, and WisdomTree jumped in, knowing BlackRock’s move was as good as a green light.
- Real Bitcoin demand: ETF issuers needed to hold actual BTC—not just paper exposure. That meant real buying pressure.
And sure enough, by early 2025, Bitcoin blew past all-time highs, not on retail hype—but on massive institutional inflows from pensions, wealth managers, even sovereign funds.
The iShares Bitcoin Trust (IBIT) shattered every record in ETF history, establishing itself as the most successful exchange-traded fund launch ever.
“Front-Run the Institutions”
The article didn’t just analyze the moment—it gave clear advice: “front-run institutional demand” and “this may be your last chance to buy cheap.”
Turns out, that advice aged beautifully.
While most folks were still licking their wounds from the FTX collapse and bracing for another crypto winter, the smart money was already moving. And those who listened? They got in ahead of one of the most explosive bull runs in market history.
What mattered in that article wasn’t just the accuracy—it was the conviction. It went against the grain when everyone was skeptical.
While headlines were still stuck on fraud, crashes, and lawsuits, it was already looking toward a world where Bitcoin had a seat at the institutional table.
And it was right.
The New Era of Crypto Legitimacy
So now, as we watch Crypto Week unfold at the White House, let’s not forget how fast things changed—and why.
July 2023 wasn’t just the start of a bull market. It was the moment Bitcoin stopped being a bet and started becoming infrastructure.
And it all started with a pivot—from “worthless” to “strategic reserve”—by perhaps the biggest name in finance.
Click here to profit from Crypto Week as Bitcoin heads to new all-time highs.
Keep coming back,
Chris Curl
Editor, Daily Profit Cycle