The CEO of BlackRock, Larry Fink, believes that Bitcoin can rise to $500,000, $600,000, or even $700,000 in the future. Fink says he is a “big believer” of Bitcoin.
According to him, Bitcoin is a powerful hedge against local currency’s devaluation and instability. He suggested that Bitcoin can help to safeguard inventors’ wealth from the loss of value in the traditional currency and the risk of unstable economics or politics.
Last year, BlackRock became the first company to receive approval from the U.S. Securities and Exchange Commission (SEC) for a Bitcoin exchange-traded fund (ETF).
To facilitate the fund, BlackRock began to buy bitcoin, and now they have become one of the largest bitcoin holders. According to Arkham Intelligence, BlackRock has recently added Bitcoin worth $600 million to their portfolio.
Following approval, Bitcoin’s price has experienced a bull market. Over the past year, Bitcoin has demonstrated impressive growth and has risen by 156.74%, reaching a value of $104,239.55. Bitcoin recently hit an all-time high on January 20, 2025, reaching a record value of $109,114.88.
Also Read: BlackRock Launches New Bitcoin ETF in Canada
