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Larry Fink, BlackRock's chief executive, said: "If everyone takes a 2 per cent or 5 per cent allocation, the price of bitcoin could reach $700,000."
Larry Fink, BlackRock chief executive, said investors had concluded too quickly that high inflation was over, raising the prospect that bond yields would rise in the future as prices rose. "The biggest risk facing the world today is that the whole world thinks inflation is over," Mr. Fink told Bloomberg on the sidelines of the World Economic Forum in Davos, Switzerland, on Wednesday, adding that his views were consistent with the market.
Larry Fink, BlackRock chief executive, said investors had concluded too quickly that high inflation was over, raising the prospect that bond yields would rise in the future as prices rose. "The biggest risk facing the world today is that the whole world thinks inflation is over," Mr. Fink told Bloomberg on the sidelines of the World Economic Forum in Davos, Switzerland, on Wednesday, adding that his views were consistent with the market.
In an interview, BlackRock CEO Larry Fink emphasized bitcoin as a hedge against currency depreciation and instability, and predicted that bitcoin could reach $500,000, $600,000, or even $700,000.
BlackRock CEO Fink said that bitcoin can overcome concerns about the instability of the local currency. The possibility of continued high inflation remains.
Larry Fink, BlackRock's chief executive, admits that he was once sceptical about Bitcoin, but he was wrong. He now says he "believes Bitcoin is a legitimate financial instrument."
Larry Fink, BlackRock's chief executive, said "tokenisation of financial assets will be the next step in the future", noting that in the future every stock and bond will have a unique identification code (similar to CUSIP), all transactions will be recorded on a unified ledger and investors will be given exclusive identification. Fink said that tokenization can not only effectively prevent illegal activities, but more importantly, it can be realized.
According to Forbes, BlackRock CEO Larry Fink warned at the Saudi Future Investment Initiative Summit that the Federal Reserve's future interest rates will not be significantly reduced as expected by the market. It is expected that there will be only one 25 basis point interest rate cut, and inflationary pressures will continue to drive up asset prices such as Bitcoin. Fink also pointed out that BlackRock's Bitcoin ETF net inflow reached $872 million on the day, a new high for the year, benefiti...
BlackRock CEO Fink: The Federal Reserve is expected to cut interest rates by at least 25 basis points by the end of 2024. We are facing higher intrinsic inflation than ever before, and interest rates will not be as low as predicted.
BlackRock CEO Larry Fink said that we believe bitcoin is an asset class in its own right.
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