Key Takeaways
- Larry Fink predicts Bitcoin could reach $500K–$700K with institutional adoption.
- BlackRock holds over 569,000 BTC and leads the US Bitcoin ETF market.
- Bitcoin's role as a hedge against economic instability is driving its appeal.
Larry Fink, CEO of BlackRock, has predicted that Bitcoin (BTC) could reach prices of $500,000 to $700,000 if institutional investors begin allocating even a small portion of their portfolios to the asset.
Speaking at the World Economic Forum in Davos, Fink described institutional interest as a major catalyst for Bitcoin’s price surge.
Fink shared in an interview with Bloomberg:
I was with a sovereign wealth fund this week, and the conversation was: ‘Should we have a 2% allocation, should we have a 5% allocation?’ If everyone adopted that conversation, it would be $500,000, $600,000, $700,000 per Bitcoin.
He clarified, however, that his statement was not an endorsement of Bitcoin.
Bitcoin as a hedge
Fink highlighted Bitcoin’s role as a “currency of fear,” offering a hedge for those worried about currency debasement or political instability.
He emphasized that Bitcoin’s decentralized nature provides an alternative to local financial risks.
BlackRock’s Bitcoin strategy
BlackRock has increasingly positioned itself as a key player in Bitcoin adoption.
In 2024, the firm launched the iShares Bitcoin Trust (IBIT), the first SEC-approved Bitcoin ETF in the U.S., and has since accumulated over 569,000 BTC, valued at $60 billion.
Recent inflows into the IBIT ETF totaled $344 million on January 22, further cementing its dominance in the Bitcoin ETF market.
International expansion
BlackRock also expanded internationally, launching a Bitcoin ETF in Canada on January 13, trading under the ticker “IBIT” on Cboe Canada.
