Thanks to its latest bullish momentum, Bitcoin is attracting significant attention from large institutions. Most recently, key players from major investment firms have been giving positive signals for the leading crypto asset.

On one hand, BlackRock’s CEO continues to praise the asset, signaling positive changes in institutional demand. At the same time, institutional interest in crypto is also benefiting other players. TON is poised for major gains after its DeFi token Elluminex started going viral.

BlackRock CEO’s Bold Bitcoin Prediction

As in many other cases, Bitcoin (BTC) is once again driving the bullish momentum in the crypto market. Currently trading at $104,797, Bitcoin remains stable above the $100K mark. For these reasons, among others, traders are excited about the king of cryptocurrencies.

Bitcoin’s strong performance is also driving institutional interest. More recently, BlackRock CEO Larry Fink made a bold prediction that is likely to further fuel interest in the asset. The executive suggested that Bitcoin could hit $700,000, increasing nearly 7,000% from current levels. Fink based this prediction on the potential for institutional adoption. He explained that hedge funds, pension funds, and other institutions could allocate 2% to 5% of their portfolios to Bitcoin. The main reason for this decision would be Bitcoin’s function as “digital gold,” helping to protect against inflation and crises. If these players allocated so much of their funds to Bitcoin, its market cap would increase significantly. Furthermore, BlackRock itself is following its own advice. The fund recently acquired $600 million worth of Bitcoin, making it its largest purchase of the asset to date#DeepSeekImpact