BlackRock CEO Fink Predicts $700,000 Bitcoin; Sovereign Funds May Allocate 2–5%

Jan 22, 2025, 04:06 PM

BlackRock CEO Larry Fink, whose firm oversees $11.5 trillion in assets, has expressed strong support for Bitcoin, highlighting it as a hedge against currency debasement and political instability. Speaking at the World Economic Forum in Davos, Fink stated that if investors are concerned about the debasement of their currency or the economic or political stability of their country, Bitcoin offers an internationally based instrument to mitigate those fears. He predicted that Bitcoin's price could rise to $500,000, $600,000, or even $700,000 amid heightened fears of currency debasement and economic instability. Fink, a self-described 'big believer' in Bitcoin, also mentioned that sovereign wealth funds are considering allocating 2–5% of their portfolios to the cryptocurrency. Additionally, he noted the possibility of prolonged elevated inflation.