BlackRock CEO Larry Fink has expressed confidence in Bitcoin’s potential, suggesting it could reach $700,000 if it becomes widely adopted as a hedge against economic and political instability.

Speaking in a recent interview, Fink highlighted Bitcoin’s appeal as an internationally based instrument that could provide a hedge against currency depreciation and geopolitical uncertainty.

“If you are afraid of the devaluation of your currency or the economic and political stability of your country, Bitcoin can overcome these local fears,” Fink said.

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The CEO of the world’s largest asset manager said he believes in Bitcoin’s utility as a financial instrument, noting its potential to provide a hedge against traditional assets such as securities or stocks. He shared a conversation he had with a sovereign wealth fund that was exploring the possibility of allocating 2% to 5% of its portfolio to Bitcoin.

If such allocations become widespread among institutional investors, the price of Bitcoin could rise, according to Fink. “If everyone embraces this conversation, the price would be $500,000, $600,000, $700,000 per Bitcoin,” Fink said, noting that he is not actively promoting BTC ($101,831.00).

*This is not investment advice.

Continue Reading: BlackRock CEO Larry Fink Praises Bitcoin at World Economic Forum, Makes Price Prediction