Larry Fink, the CEO of BlackRock, stated at the World Economic Forum that Bitcoin's price could reach as high as $700,000 due to increased adoption. During a discussion alongside Peng Xiao from G42, Fink highlighted Bitcoin's role as a hedge against inflation and its appeal in uncertain economic climates. He described crypto as a 'currency of fear,' valuable for individuals concerned about their local currencies' stability. Fink mentioned that if more investors considered a significant allocation toward Bitcoin, such as 2% to 5%, the price could surge to $500,000 or beyond. He noted that BlackRock has been heavily involved in crypto assets and has witnessed substantial inflows into their Bitcoin ETF offerings. Despite his positive remarks, Fink clarified that his comments were not intended as a promotion for Bitcoin.

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