BlackRock CEO forecasts incredible future Bitcoin price

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Last Updated on 24 January 2025 by CryptoTips.eu

Larry Fink, CEO of BlackRock, participated in a panel discussion during the World Economic Forum in Davos. Topic of discussion was the possible deflation of the dollar and other fiat currencies. During his argument, Larry explained that this possibility was the very reason that convinced him in 2023 that Bitcoin was worth an investment (BlackRock has been offering a Bitcoin ETF in the United States since January 2024) and that the price of Bitcoin will depend on what percentage of investors want to allocate their portfolio to Bitcoin in the future.

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Scarcity

At a time when governments of several major countries are struggling with mounting debt and inflation that seems to be out of control, Fink believes Bitcoin’s scarcity is its biggest attraction. According to him, the fact that there are only 21 million Bitcoins means that the largest digital currency can form an increasingly larger part of your investment portfolio in the long term.

This theory probably made Fink decide to change his opinion about Bitcoin in 2023 and instruct his company BlackRock to apply for a Bitcoin ETF license. Since BlackRock obtained almost every ETF license it applied for at the SEC in the past, the price of Bitcoin started to rise rapidly in 2023 thanks to that decision.

iBit, which stands for iShares Bitcoin Trust ETF, became a very big success for his company as it allows ‘older’ investors to also participate in the crypto world with the guarantee of security from BlackRock. Since launch, iBit is up more than 160%.

Price

Fink also said he thinks that if investors ever decide to invest not 2 but 5% of their investment portfolio in Bitcoin, a price of $700,000 per Bitcoin is a possibility.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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