Should investors across all categories—from private to institutional—decide to allocate 2% to 5% of their portfolios to the leading cryptocurrency, its value could reach $700,000. This was stated by BlackRock CEO Larry Fink in an interview with Bloomberg.
*BLACKROCK’S FINK: “If you’re frightened of the debasement of your currency, or… of the economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will overcome those local fears.. [BTC] could be $500k, $600k, $700k…” pic.twitter.com/HxDLWnbYz6
— Alex Thorn (@intangiblecoins) January 22, 2025
“This week I met with representatives of a sovereign fund, and the discussion was about whether to allocate 2% or 5% of the portfolio. If everyone adopted such a strategy, the value of Bitcoin could be $500,000, $600,000, or even $700,000,” Fink stated.
However, he emphasized that he is not aiming to promote cryptocurrencies, nor to advance his own career.
During the interview, the top executive suggested that Bitcoin has the potential to change lives—especially for those living in countries with unstable national currencies.
“If you are afraid of the devaluation of your currency or concerned about the economic or political stability of your country, you have an international instrument called Bitcoin that can overcome these local fears […]. Therefore, I firmly believe in using it as a tool,” Fink stated.
The volume of digital gold managed by BlackRock’s IBIT spot exchange-traded fund amounts to $60 billion, according to SoSoValue.
Back in autumn, Fink expressed confidence in Bitcoin’s growth as an alternative to gold and other exchange-traded commodities.
In April 2022, the CEO of BlackRock announced the company’s interest in cryptocurrencies, although shortly before, he was listed among the “enemies” of digital gold by PayPal co-founder Peter Thiel.