Bitcoin Could Hit $700.000, Predicts BlackRock CEO Amid Economic Uncertainty

• Bitcoin hits all-time high.
• Larry Fink predicts BTC price at $700.000.
• Growing interest from sovereign wealth funds.

As the market adjusts following recent political events in the United States, Bitcoin, the leading cryptocurrency in the market, continues to capture investors’ attention with its astonishing performance. The digital currency recently reached a new all-time high, trading at an impressive $109.026,02. This peak is a significant milestone considering the cryptocurrency’s track record since its launch.

At the time of publication, the price of Bitcoin today was quoted at US$ 104.080 with a drop of 1,5% in the last 24 hours.

In a revealing interview, Larry Fink, CEO of BlackRock, the world’s largest asset manager, commented on the future potential of Bitcoin in the face of a turbulent global scenario. According to Fink, Bitcoin not only serves as a safeguard against currency devaluation and political crises, but could also see its value climb to as high as $700.000 if economic conditions deteriorate further.

JUST IN: $11.5 trillion BlackRock CEO Larry Fink says Bitcoin could go up to $700,000 if there is more fear of currency debasement and economic instability. pic.twitter.com/WOXclAsjDP

- Bitcoin Magazine (@BitcoinMagazine) January 22, 2025

“Hedging against currency debasement and political instability is essential, and Bitcoin serves as an international instrument for that purpose,” Fink explained. He added, “If concerns about local instability increase, Bitcoin could quickly climb to $500.000, $600.000 or even $700.000.”

Furthermore, the executive highlighted that sovereign wealth funds are considering significant allocations to Bitcoin, ranging from 2% to 5% of their portfolios. This growing interest from sovereign wealth funds could indicate a new phase of institutional adoption of the cryptocurrency, reinforcing its position as a legitimate and robust financial asset.