Larry Fink, CEO of BlackRock, the world’s largest asset manager, has expressed a strong belief in Bitcoin’s potential, suggesting it could reach a price of $700,000. In recent comments, Fink positioned Bitcoin as a potential hedge against currency devaluation and geopolitical instability.
Fink highlighted Bitcoin’s international nature, stating, “If you’re frightened of your debasement of your currency, or you’re frightened of your economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will overcome those local fears.”
He emphasized his belief in Bitcoin’s utility, stating, “I’m a big believer in the utilization of that as an instrument.” Fink further speculated on the potential impact of wider adoption by institutional investors. He recounted a recent conversation with a sovereign wealth fund exploring the possibility of allocating 2% to 5% of their portfolio to Bitcoin.
Fink hypothesized that if such allocation strategies became widespread, Bitcoin’s price could surge dramatically. “If everybody adopted that conversation,” he explained, “it would be $500,000, $600,000, $700,000 per Bitcoin.”
He was careful to clarify that his comments did not constitute an endorsement or promotion of the cryptocurrency. “I’m not promoting it, by the way,” Fink stated.
