23.01.2025 17:41
Larry Fink, the CEO of BlackRock, the world's largest asset management company, stated that if investors hold 2-5% of Bitcoin (BTC) in their portfolios, the value of the cryptocurrency could rise to as much as $700,000.
The institutional adoption in the cryptocurrency market is gaining momentum. The change in BlackRock CEO Larry Fink's views on Bitcoin reflects a remarkable transformation, from his 2021 statement of "low demand" to now describing Bitcoin as "an international asset."
Strategic Bitcoin Reserve Plans on the Agenda
Larry Fink reported that he has been in discussions with national sovereign wealth funds in Davos regarding Bitcoin allocation. As institutional investors' interest in the cryptocurrency market increases, the value of assets under management in BlackRock's iShares Bitcoin Trust ETF (IBIT) has reached $57 billion.
Fink emphasized that Bitcoin could serve as a protective asset for investors in countries experiencing economic and political instability. Recently, Bitcoin tested an all-time high of $109,000.
According to research by Bitwise Asset Management, the percentage of financial advisors incorporating cryptocurrency into client portfolios is expected to rise to 22% in 2024, up from 11% last year.