BlackRock CEO Larry Fink Predicts Bitcoin Could Reach $700,000

Larry Fink highlights Bitcoin as a hedge against economic fears and political instability during the World Economic Forum in Davos.

Larry Fink, CEO of BlackRock, suggested Bitcoin's price could rise to $700,000 if global adoption accelerates, particularly among sovereign wealth funds allocating 2-5% of their portfolios to the cryptocurrency.
Fink views Bitcoin as a hedge for those concerned about currency debasement and political or economic instability, describing it as an 'internationally based instrument' to address such fears.
This marks a significant shift from Fink's earlier skepticism about Bitcoin, as he now sees it as a unique asset class comparable to gold.
BlackRock's iShares Bitcoin Trust ETF, launched last year, has become the most successful ETF launch in history, reflecting growing institutional interest in Bitcoin.
Bitcoin's price recently hit an all-time high of $108,786 but has since dropped to around $102,438, reflecting short-term volatility in the market.