26/01/2025
BlackRock CEO suggests Bitcoin price might reach $700,000
During a discussion with Bloomberg’s Francine Lacqua at Bloomberg House in Davos, BlackRock CEO Larry Fink stated that Bitcoin's price could rise to $700,000 with broader institutional adoption. Fink shared insights from a recent conversation with a sovereign wealth fund; the fund was asking the BlackRock boss whether it should have a 2% allocation or a 5% allocation. "If everybody adopted this conversation, it would be $500,000, $600,000, $700,000 per Bitcoin…I am not promoting it by the way. That is not my promotion," he said. As previously reported by U.Today, Fink consistently argued that Bitcoin may serve as an alternative to gold, as well as a hedge against currency debasement and political instability. According to SoSoValue, BlackRock's iShares Bitcoin Trust ETF has now exceeded $60 billion in net assets.
