According to $10 trillion asset manager BlackRock’s CEO Larry Fink, leading cryptocurrency Bitcoin (BTC) could reach $700,000 amid economic instability. In a Davos interview, the CEO praised Bitcoin as a reliable alternative in an economy plagued by fear and uncertainty.

Fink says that Bitcoin is a hedge against currency debasement and political instability. He said that if sovereign wealth funds worldwide allocate just 2 to 5 percent to Bitcoin, its price could reach $700,000. “If you’re frightened about debasement or local political instability, you have an international instrument called Bitcoin to overcome those fears.” “We could see $500K, $600K, $700K per BTC” the BlackRock CEO noted. He also made sure to mention that he wasn’t “endorsing” Bitcoin, simply predicting its potential.

Bitcoin To Boom Even Further Starting This Year, BlackRock CEO Says

In 2025, institutional interest in Bitcoin and other cryptocurrencies is rising. The industry reached new levels following the launch of the first spot crypto ETF in early 2024: Bitcoin and Ethereum. BlackRock holds both of these ETFs in its arsenal and already has more pending ETF applications for XRP and other crypto assets. The crypto ETF industry has seen great success, going hand in hand with crypto’s success in the last 365 days.

Also Read: Bank of America CEO Says Banking Industry Will Embrace Crypto

While these projections by BlackRock’s Larry Fink for Bitcoin seem positive, they are underscored by the asset’s history with volatility. Regulatory developments, adoption rates, and macroeconomic conditions will ultimately determine Bitcoin’s future. Fortunately, the new US administration has already set the stage for crypto regulation and more possibilities. The newly-ramped SEC could be set to give clear jurisdiction on cryptocurrency and future ETF approvals, opening the door for another crypto bull run. Bitcoin being the head of the industry with a far-and-away leading market cap, could mean Bitcoin surging considerably.

While $700,000 may still be a while away, Larrk Fink echoes several crypto experts in the industry who are bullish on the asset’s potential over the next few years. The asset is already up 156% in the past calendar year. Several analysts see another similar climb in 2025, clearing the path for a boom to $200,000 and beyond. Once Bitcoin hits that level, only the sky may be the limit.

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