BlackRock CEO Fink’s target for Bitcoin makes waves at Davos

Larry Fink, CEO of U.S. investment giant BlackRock, remarked on Thursday that Bitcoin could hit up to $700K, as if sovereign wealth funds allocate between 2% and 5% of their portfolios to the world’s most valuable cryptocurrency.

Speaking at the World Economic Forum 2025 in Davos, Switzerland, to business-focused Bloomberg News, Fink pointed out that Bitcoin, especially in politically and economically turbulent countries, is preferred by individuals and institutions.

According to Fink, for those fearing currency devaluation, Bitcoin can serve as an international haven.

Target for Bitcoin

Fink, indicating that demand for Bitcoin may increase in this scenario, stated, “If everyone talks about this, the value of Bitcoin could reach $500,000, $600,000, or $700,000.”

Fink also emphasized that such discussions are becoming increasingly common in the investment world.

BlackRock is among the companies that recognized the potential of Bitcoin and blockchain technology early on. The company’s iShares Bitcoin Trust, a spot Bitcoin ETF, rapidly grew to a portfolio size of $60 billion last year after receiving approval from the US Securities and Exchange Commission (SEC).

While this ETF brings in $150 million in annual revenue for BlackRock, it further solidifies Bitcoin’s position in the financial system. Larry Fink’s positive views on Bitcoin indicate that the cryptocurrency could be embraced by a wider range of investors in the future.

Bitcoin reached its all-time high at the $109,000 level, ahead of US President Donald Trump’s inauguration on Jan. 20, as he pledged to ease regulations over cryptocurrency markets.

Sliding down to $100,000 after Trump took office, Bitcoin is currently being exchanged at $101,440 as of 1:20 p.m. GMT.