BlackRock CEO Larry Fink cautioned that the market could face another 20% drop, but he believes the ongoing pullback offers a valuable opportunity for investors looking to the future.

Speaking at the Economic Club of New York on Monday, Fink explained that while the market downturn could continue, he views it as a “buying opportunity” rather than a time to sell. “I see this more as a chance to buy than a reason to sell, though it’s possible the market could go lower,” he stated.

Fink also noted that inflationary pressures are stronger than many had anticipated and that a significant portion of market participants already believe the U.S. economy is in a recession. Due to these factors, he does not expect the Federal Reserve to lower interest rates this year.

Earlier, Fink raised concerns in a shareholder letter about Bitcoin’s growing threat to the U.S. dollar. He warned that if Americans begin viewing Bitcoin as a safer investment than the dollar, it could weaken the currency’s position on the global stage.

The market has been rattled in recent days after President Donald Trump’s tariff announcement, with both the broader market and cryptocurrencies feeling the effects. Bitcoin (BTC) has dropped 5% in the last five days and 11% over the past month. Stocks have been hit harder, with the S&P 500 and Nasdaq down 13% and 15%, respectively.