Larry Fink, CEO of BlackRock, is bullish on Bitcoin, predicting it could reach $700,000 if more investors allocate a small percentage of their portfolios to the cryptocurrency. In a recent interview with Bloomberg Live, Fink suggested that if everyone adopted a 2% or 5% allocation, Bitcoin's price could skyrocket to $500,000 or even $700,000 ¹.

Fink's optimism is rooted in Bitcoin's growing role as a hedge against economic instability and currency debasement. He believes that as more investors seek to safeguard their wealth from inflation and economic uncertainty, Bitcoin's price will continue to rise ².

It's worth noting that BlackRock's iShares Bitcoin Trust (IBIT) fund is the largest holder of Bitcoin ETFs, with $60.69 billion in assets under management ¹. Additionally, data from Coinglass shows that Bitcoin spot ETFs saw an inflow of $248.70 million on Wednesday, marking two consecutive days of inflows ¹.

As Ruslan Lienkha, head of markets at YouHodler, pointed out, ETFs will likely mirror the spot Bitcoin market, making inflows and outflows a key indicator of market sentiment ¹.

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