BlackRock CEO: Bitcoin Could Hit $700K
One of the most optimistic cases for Bitcoin may have been made by BlackRock CEO Larry Fink.
While speaking with Bloomberg at the World Economic Forum, Fink suggested that if investors, both large and small, were to allocate 2% to 5% of their portfolios to Bitcoin, its value could potentially reach $500,000 to $700,000 per Bitcoin.
However, he clarified that he was not promoting Bitcoin and that this was simply a conversation he had with a sovereign wealth fund.
Fink’s stance on Bitcoin seems to have changed since he previously stated that BlackRock had seen little demand for digital assets.
In 2023, he spoke about Bitcoin as a way to “digitize gold” and make crypto more accessible and affordable for investors. In 2020, BlackRock launched a spot Bitcoin ETF, the iShares Bitcoin Trust ETF, which is now the largest on the market, managing almost $57 billion in assets.
