BlackRock CEO Larry Fink has suggested that Bitcoin could reach a price of $700,000 if concerns about currency debasement and economic instability persist.

BlackRock, the world’s largest asset management firm, reportedly purchased $600 million worth of Bitcoin on January 22. This marks its largest acquisition of the crypto this year. The recent BTC acquisition was spotted by blockchain analytics platform Arkham Intelligence.

If everybody adopted that conversation, it would be $500,000, $600,000, $700,000 for bitcoin’ — Larry Fink That’s Larry Fink, chief executive at BlackRock Inc., the world’s largest asset manager, who says that bitcoin could reach $700,

Fink was sharing the stage with Peng Xiao, the CEO of AI company G42, who interjected with “to some extent” on Fink’s contention that fear drives bitcoin. But Fink just doubled down on the idea that it was “okay” for bitcoin’s fortunes to rely on fear.

Bitcoin ( BTC 1.30%) had a phenomenal year in 2024. The cryptocurrency returned 119%, easily outperforming the 23% gain in the S&P 500 (SNPINDEX: ^GSPC), which itself is commonly seen as a barometer for the overall U.S. stock market. In fact, only five stocks in the S&P 500 created more wealth than Bitcoin last year.

Bitcoin lost its bullish momentum because the new United States president, Donald Trump, did not mention crypto in his inauguration speech.

Larry Fink, the head of the world’s largest asset management firm, said today during an interview at Davos that there is one scenario in which Bitcoin could surge to as much as $700,000.

Bitcoin options on CME show highest bullish sentiment since Trump's election, with skew surging 4.4% amid strong ETF inflows.

Pension funds are investment pools that manage people's retirement savings. They aim to encourage long-term saving and provide financial security for retirees. But some pension funds in the US, UK and elsewhere have recently begun investing in cryptocurrencies,

BlackRock Inc. Chief Executive Officer Larry Fink said investors are too quick to conclude that high inflation is over, raising the prospect that bond yields will rise along with steeper prices.

BlackRock's ( NYSE: BLK) iShares Bitcoin Trust ( NASDAQ: IBIT) has more than doubled in value since its debut in Janaury 2024, and is up about 8% this month. BlackRock on Monday launched the ETF on Cboe Canada, expanding access to Canadian investors.

BlackRock CEO Larry Fink said Bitcoin will hit $700k, while Goldman Sachs CEO David Solomon said BTC is not a threat to the dollar.