Bitcoin could hit $700k, company buys $600m Bitcoin
BlackRock CEO Larry Fink suggested that the price of Bitcoin could rise to $700,000 if sovereign wealth funds allocated 2-5% of their portfolios to the cryptocurrency.
Speaking at the World Economic Forum in Davos, Fink highlighted Bitcoin (BTC) as a tool to address concerns about currency depreciation and political instability.
“If you are afraid of debasement or local political instability, you have an international instrument called Bitcoin to overcome those fears,” Fink said. “We could see $500,000, $600,000, $700,000 per Bitcoin.”
Despite his optimistic outlook, Fink clarified that he was not promoting Bitcoin, instead highlighting its volatility. He noted that even during bull markets, Bitcoin has seen significant price corrections.
BlackRock buys $600 million worth of Bitcoin
In addition, Arkham Intelligence reported that BlackRock acquired $600 million worth of Bitcoin today, marking its largest purchase in 2025.
Currently, BlackRock’s iShares Bitcoin Trust holds 559,262 BTC, valued at approximately $58.51 billion.
With this in mind, BlackRock has expanded its cryptocurrency offering. The company launched its iShares Bitcoin Trust and iShares Ethereum Trust last year, enabling direct investments in Bitcoin and Ethereum (ETH), respectively.
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