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BlackRock CEO Predicts Potential Bitcoin Price Surge to $700,000
During the World Economic Forum in Davos, BlackRock CEO Larry Fink shared his insights on Bitcoin’s potential growth. Fink suggested that if sovereign wealth funds allocate 2% to 5% of their portfolios to the cryptocurrency, Bitcoin’s price could surge to $700,000.
Fink highlighted Bitcoin as a tool to address concerns about currency debasement and political instability.
“If you’re frightened about debasement or local political instability, you have an international instrument called Bitcoin to overcome those fears.”
He added that the potential price of Bitcoin could reach $500,000, $600,000, or $700,000 per coin. However, Fink also emphasized the volatility of Bitcoin, noting that even during bull markets, the cryptocurrency has experienced significant price corrections.
BlackRock’s Growing Involvement in Cryptocurrency
BlackRock has expanded its cryptocurrency offerings, launching its iShares Bitcoin Trust and iShares Ethereum Trust last year. This move enables direct investments in Bitcoin and Ethereum, respectively.
According to recent reports, BlackRock acquired $600 million worth of Bitcoin on January 22, 2025, marking its largest purchase this year. Currently, BlackRock’s iShares Bitcoin Trust holds 559,262 BTC, valued at approximately $58.51 billion.
Here are some key points to consider:
- BlackRock CEO Larry Fink predicts potential Bitcoin price surge to $700,000.
- Fink highlights Bitcoin as a tool to address concerns about currency debasement and political instability.
- BlackRock has expanded its cryptocurrency offerings, launching iShares Bitcoin Trust and iShares Ethereum Trust.
- The firm acquired $600 million worth of Bitcoin on January 22, 2025.
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