#BTCStateReserves BlackRock CEO predicts Bitcoin could hit $700,000 if sovereign wealth funds plan to allocate 2% to 5% of their investments to cryptocurrencies.

“I spoke with a sovereign wealth fund this week, and we discussed the optimal percentage of investments to be allocated to cryptocurrencies,” Larry Fink said on the sidelines of the World Economic Forum in Davos.

“We asked ourselves, should there be a 2% or 5% allocation of total investments to cryptocurrencies, and if more funds thought that way, Bitcoin could be worth $500,000, maybe $700,000,” he added.

“If you’re worried about your currency depreciating, or there’s uncertainty about economic or political stability, you can have an international instrument called Bitcoin, which can overcome local concerns,” he added.