BlackRock CEO Larry Fink said he was confident that Bitcoin will rise in price to $700,000. This will happen after the flagship kriptovalyuta will become a “safe haven for preserving capital in times of instability.”
The head of the largest asset manager and issuer has his opinion bitcoin ETF said during a speech at the World Economic Forum.
If people around the world experiencing political and economic turmoil turn to bitcoin to protect their purchasing power, we could see unprecedented growth, Fink said.
He said his forecasts were based on the fact that BlackRock's clients, including large investment funds and asset managers, are increasingly interested in investing in Bitcoin .
Spot the other day bitcoin ETF iShares Bitcoin Trust (IBIT) by BlackRock increased its assets by 6470 BTC ($682,43 million), and now they total 563 BTC (about $134 billion). This indicates the fund issuer’s faith in the future of the leading cryptocurrency.
BlackRock recently released a report stating that Bitcoin implementation ahead of other technological innovations such as the Internet and mobile phones.
