Bitcoin News: BlackRock CEO Larry Fink Predicts Bitcoin Could Reach $700,000

In a bold prediction, BlackRock CEO Larry Fink has suggested that Bitcoin could potentially reach $700,000. This forecast comes as Fink highlights Bitcoin's role as a hedge against economic instability and currency debasement.

BlackRock CEO Larry Fink Predicts Bitcoin Could Reach $700,000

Larry Fink, CEO of BlackRock, the world's largest asset manager with $10 trillion in assets, has expressed strong belief in Bitcoin's potential. In a recent interview at Davos, Fink highlighted Bitcoin as a reliable hedge against economic instability, currency debasement, and political uncertainty. He suggested that if sovereign wealth funds allocate just 2 to 5 percent of their portfolios to Bitcoin, its price could soar to $700,000. Fink emphasized Bitcoin's role as an international instrument to mitigate fears of local instability and economic debasement.

Ross Ulbricht Reportedly Still Holds $47 Million in Bitcoin

Ross Ulbricht, the founder of the darknet marketplace Silk Road, reportedly still possesses approximately $47 million worth of Bitcoin. According to a post by Grogan on X, around 430 BTC across dozens of wallets associated with Ulbricht have remained untouched for over 13 years, indicating that these funds were not confiscated by the US government during his arrest in 2013. At the time of his arrest, the US government seized about 50,000 BTC from Ulbricht. Grogan speculates that Ulbricht likely no longer has access to the private keys of these wallets, which is why the government could not confiscate them. The revelation has sparked discussions about the potential impact on Ulbricht's pardon if these Bitcoins were to be sold.

Bitcoin (BTC) Price Prediction for January 22

Bitcoin's price recently climbed toward $107,240 but failed to sustain this level, dropping to $103,691. Over the past 24 hours, Bitcoin’s trading volume decreased by more than 40%, totaling $62.7 billion. In a broader perspective, Bitcoin fell below $100,000 on January 7 and showed a downward trend, reaching a low of approximately $89,397 on January 13 before starting to recover. Over the last 24 hours, its total market capitalization decreased by 1.69%, settling at $2.04 trillion. Bitcoin’s price experienced a decline following Donald Trump’s inauguration speech, which notably lacked any mention of cryptocurrencies, sparking uncertainty in the market. Additionally, Bitcoin has been struggling to maintain momentum as it faces repeated rejections at the $107,000 price level.

Ledger Co-Founder Involved In Strange Kidnapping Hoax

A bizarre incident involving Ledger's co-founder, Eric Larchevêque, has captured the attention of the crypto community. Reports surfaced claiming that Larchevêque was kidnapped, with the kidnappers demanding Bitcoin as ransom. However, the authenticity of these reports is highly questionable. Larchevêque, who resigned from Ledger in 2019, has not been directly involved with the company since. The rumor spread rapidly across social media platforms, yet no concrete evidence has been presented to substantiate the claims. This incident raises numerous questions about the credibility of the sources and the motives behind such a hoax.

BlackRock CEO Larry Fink Predicts Bitcoin Could Rise to $700k

BlackRock’s Chief Executive Officer Larry Fink has expressed strong belief in Bitcoin, predicting that its price could skyrocket to $700k. In a recent interview, Fink highlighted Bitcoin's potential to overcome the uncertainty associated with fiat currencies, especially for those concerned about the debasement of their local currencies or the political and economic stability of their countries. This endorsement from the head of the world’s largest asset management firm underscores the growing legitimacy of Bitcoin as an investment vehicle among institutional investors.