The General Director of the world’s largest BlackRock Assets Larry Fink explained how institutional acceptance can affect the price of Bitcoin (BTC).
According to Finn, the demand for bitcoin by large investors can raise the BTC price to $ 700,000 per coin. He is about this declared In an interview for Bloomberg.
CEO BlackRock Bitcoin Forecast
At the World Economic Forum in Davos, the USA, Fink proposed one of the most optimistic scripts for bitcoin. During a conversation with Bloomberg reporters, he mentioned a recent conversation with representatives of the sovereign fund, which discussed the theme of the BTC distribution.
BlackRock CEO emphasized that Bitcoin is an alternative for those who are concerned about the depreciation of local currencies or political and economic instability. Fink noted that he really believes in BTC and regards it as a full -fledged financial instrument.
Earlier, Brian Armstrong, General Director of Coinbase Cryptos, gave an extremely optimistic forecast of Bitcoin. In a commentary for CNBC, he notedthat under the administration of Donald Trump, the cost of BTC can increase to several million dollars.
BlackRock strategy by bitcoin
BlackRock actively increases its presence in the market of the largest cryptocurrency. At the beginning of 2024, the company was the first to approve the US Securities and Exchange Commission (SECs) to launch a spot exchange fund based on BTC.
At the moment, the asset manager is considered one of the largest corporate holders of bitcoin. According to the latest data, under the control of BlackRock, there are more than 596 thousand BTC in the amount of $ 60 billion at the current rate.
Recently the company bought a bitcoin for $ 600 million, according to Arkham Intelligence.
ISHHARES BITCOIN TRUST ETF (IBIT) from BlackRock is the largest player in the market of spotto bitcoin-ETF. According to Sosovalue, the Fund controls 2.89% of the total BTC offer.
According to the results of the trading session, which ended on January 22, IBIT attracted $ 344.28 million. Other bitcoin-ETF reported about zero or negative tributaries for the same period.
Earlier on January 13, BlackRock also Launched Spot Bitcoin -etf in Canada. Fund shares are now traded on the CBOE Canada Stock Exchange.
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Source: Cryptocurrency
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