Larry Fink, the CEO of BlackRock, made a striking prediction during the World Economic Forum in Davos. In an interview with Bloomberg, Fink announced that Bitcoin (BTC) could possibly rise to no less than $ 700,000 in the future.
Spectacular increase possible
If Fink’s forecast becomes reality, that would mean an increase of 586% compared to the current rate. Although the CEO did not mention a specific time period in which Bitcoin could achieve this value, he emphasized why the digital currency could go through such a spectacular growth.
According to Fink, Bitcoin is increasingly being seen as an international instrument that offers protection against value reduction of fiatrinuta and economic uncertainty. He added that a small allocation of only 2% to 5% in institutional portfolios would already be sufficient to realize such a price increase.
“If you are afraid of the depreciation of your currency or doubts about the economic and political stability of your country, then Bitcoin offers a globally accepted solution,” “ Fink stated in the interview.
Inflation remains a risk
Despite recently published inflation figures of 3.2% – just below the expected 3.3% – Fink warns that inflation remains a big risk. He predicts that inflation will remain high in the next 12 months. Investors are concerned that the official consumer price index (CPI) underestimates actual inflation. Some analysts even claim that real inflation may be twice as high as the official figures suggest.
According to Fink, these worries emphasize the need to diversify, for example by investing in Bitcoin, to limit the negative consequences of fiaton value.
Microstratey as an example
An example of Bitcoin’s institutional adoption is micro strategy. Under the leadership of Michael Saylor, the software company now owns 461,000 BTC. To achieve this number, the company recently bought 11,000 bitcoin, worth $ 1.1 billion.
With an average purchase price of $ 101.191 per BTC, MicroSstratey is the largest institutional bitcoin holder in the world. Saylor regards Bitcoin as a superior alternative to traditional assets such as gold and fiatraluuta.
Claim € 10 free today and do not pay trading costs over the first € 10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Only deposit € 10 and receive € 10 free of charge. Moreover, you can act without costs for 7 days over your first € 10,000 in transactions. Start today and take advantage of the growing popularity of Crypto!
Make your account and claim € 10 for free.
Don’t miss this opportunity to take advantage of the growing popularity of Crypto!
Source: https://newsbit.nl/bitcoin-naar-700-000-blackrock-ceo-ziet-enorme-groeipotentie/
