EddieJayonCrypto
22 Jan 25
BlackRock Chairman and CEO Larry Fink stated that the price of Bitcoin could reach as high as $700,000 during a conversation with Bloomberg at the World Economic Forum in Davos. Fink expressed that Bitcoin serves as a hedge against inflation and a currency of fear for those concerned about economic ...
BlackRock CEO Predicts Bitcoin's Price to Surge to $700,000BlackRock CEO Larry Fink foresees Bitcoin's price surging to $700,000, highlighting it as a hedge against inflation and economic instability. During a conversation with Bloomberg at the World Economic Forum in Davos, Fink emphasized Bitcoin's role as a currency of fear, indicating that it provides a safeguard for those concerned about economic or political turmoil.
Fink mentioned that a sovereign wealth fund was contemplating a 2% to 5% allocation to Bitcoin, a move that could potentially propel its price to $500,000 to $700,000 if widely adopted, although Fink clarified that his remarks were not intended as a promotion of Bitcoin.
BlackRock has been actively involved in crypto assets such as Bitcoin and Ethereum through their ETF offerings, experiencing significant inflows over the past year. As of now, Bitcoin is down 2.5% in the last 24 hours, trading at $104,000 after reaching a new all-time high of $108,786 on Monday.