Larry Fink: Bitcoin will grow to $ 700,000

BlackRock CEO Larry Fink has made a bold prediction that the price of bitcoin BTC $104,892.95 Bitcoin 0.68% Market capitalization $2.08 trillion VOL. 24 hours $5.22 billion could reach $ 700,000 in the future. According to the analyst, the main positive triggers will be the growth and wider adoption of cryptocurrencies, institutional interest, and a limited number of coins, which ensures the scarcity of the asset.

Fink noted that the flagship of the cryptocurrency market is increasingly perceived as «digital gold» and a means of preserving value in a world where traditional financial instruments are losing confidence. «Demand for bitcoin among investors continues to grow, and this could make it a key asset for preserving capital in times of economic instability,» he said.

Analysts also emphasize that the approval of bitcoin ETFs by major financial companies, including BlackRock, has significantly increased confidence in the cryptocurrency market. It is expected that such products will open access to bitcoin for millions of investors who have not previously considered it as an investment instrument.

Nevertheless, experts warn against excessive optimism, as the price of bitcoin remains very volatile and depends on regulatory changes and the global economic situation. At the time of writing, the main cryptocurrency is trading at $ 104,745, showing a daily increase of 2.4%.