BlackRock's CEO expects the price of Bitcoin to reach $BTC 700 thousand dollars
Larry Fink, the CEO of BlackRock, renewed his prediction that the value of Bitcoin will reach 700 thousand dollars in the future.
Fink had previously predicted that the price of Bitcoin would reach this level if sovereign wealth funds allocated between 2 to 5% of their investments to cryptocurrencies.
Recently, Larry Fink reiterated his prediction of the cryptocurrency's price reaching 700 thousand dollars, amid increasing adoption of Bitcoin by major financial institutions and banks, along with the expansion of regulations in supporting countries for cryptocurrency investments, and their efforts to build a strategic reserve of it as a hedging tool.
According to Fink, if institutional adoption continues to grow and similar allocation strategies are widely adopted, market dynamics could push Bitcoin towards these high levels.
Source: Analytics Insight
