BlackRock CEO Larry Fink Speculates Bitcoin Could Reach $700,000 Amid Institutional Interest 💰
Larry Fink, CEO of BlackRock, shared his views on Bitcoin's potential to hit $700,000 if institutional investors allocate a portion of their portfolios to it. His speculation arises from a conversation with a sovereign wealth fund discussing Bitcoin allocation.
While Fink clarified he was not promoting Bitcoin, his views align with those of Coinbase CEO Brian Armstrong, who also predicted a bullish future for the cryptocurrency. Fink sees crypto as playing a crucial role in the global economy, labeling Bitcoin as a "currency of fear" amid concerns over currency debasement and instability.
BlackRock has been actively increasing its Bitcoin exposure and holds over 569,000 BTC, valued at over $60 billion. In 2024, it became the first to receive US SEC approval for a Bitcoin ETF, further solidifying its position in the crypto market.
The iShares Bitcoin Trust ETF, with significant inflows and market control, boosts BlackRock's strategy. Fink also marked BlackRock's launch of the iShares Bitcoin ETF in Canada, expanding international investment strategies.
Source: beincrypto.com ↗
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