BlackRock CEO Predicts Bitcoin Boom Driven by Sovereign Wealth Funds
Larry Fink, the head of the world’s largest asset management firm, has suggested that Bitcoin could experience a significant surge in value if sovereign wealth funds begin to invest in the digital asset.
Speaking at the World Economic Forum in Davos, Switzerland, Fink highlighted the potential role of Bitcoin as a hedge against various economic and political concerns.
He explained that in times of uncertainty, such as rising inflation or instability in a country’s economy or political system, Bitcoin offers an internationally recognized alternative that can address these fears.
According to Fink, this could lead sovereign wealth funds to consider allocating a small percentage of their portfolios—perhaps 2% to 5%—to Bitcoin. He speculated that widespread adoption of this strategy could drive Bitcoin’s price to unprecedented levels, potentially reaching between $500,000 and $700,000 per coin.
READ MORE:
Solana Futures ETFs May Arrive Sooner Than ExpectedBlackRock, the firm led by Fink, has increasingly embraced Bitcoin over the past year. It launched the iShares Bitcoin Trust ETF (IBIT) in early 2024, backed by a $50 billion reserve. By November, the Bitcoin ETF had surpassed the company’s long-standing gold ETF (IAU), which debuted in 2005, in terms of net assets.
The Bitcoin fund now manages over $33 billion, underscoring the growing institutional interest in the cryptocurrency.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AAVE soars 13% as buyback proposal passes among tokenholders
Troller Cat’s Tail Is Twitching—Something Big’s Brewing in The Upcoming Meme Coin Presale
Meme coins weren’t always taken seriously. They started as internet jokes with little utility and zero roadmaps.Troller Cat Isn’t Playing Around—This Meme Coin Is Armed With StrategyMeme Coin Culture in Latin America Is Roaring—and Troller Cat Fits Right InWhitelist Access: The Smartest Way to Get Ahead of the HerdConclusion: This Is the Meme Coin Presale to Watch—Before the Cat’s Out of the Bag

Ripple vs Ethereum: XRP Will Outperform ETH by 2028, Reveals Standard Chartered
BlackRock Remains Cautious in Recommending Cryptocurrencies to Large Investors
Trending news
MoreCrypto prices
More








