Larry Fink just put a number on his Bitcoin price bet. The BlackRock CEO, who once called crypto a money laundering tool, is now projecting $500 million in annual revenue from digital assets by 2030. That is not a footnote. That is a line item in a shareholder letter from the man running $10 trillion in assets.

The machinery behind that projection is already moving. BlackRock’s iShares Bitcoin Trust holds nearly 800,000 BTC, worth roughly $55 billion, and generates an estimated $250 million in annual fee revenue today. Fink is betting that number doubles.

The market structure that makes it possible is forming right now.

Fink’s 2026 shareholder letter did not mince words.

He compared crypto’s current moment to the…