BlackRock CEO Reveals Talks About Bitcoin for Sovereign Wealth Funds — Expects $14 Trillion as Prices Surge on Dollar Collapse Fears

Bitcoin and cryptocurrency prices have swung wildly this week Traders are preparing for US President Donald Trump to drop a bomb on the price of Bitcoin.

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the The price of Bitcoin has risen to an all-time high On Monday, however It fell alongside Trump’s new coin.

now, With growing fears of a US dollar crisis at the Federal ReserveBlackRock CEO Larry Fink revealed that he has had discussions with sovereign wealth funds about purchasing Bitcoin, and predicted that such talks could push the price of Bitcoin to $700,000 per Bitcoin, which would give Bitcoin a market value of $14 trillion.

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Forbes“It Will Happen” – Bitcoin Prices Bracing for a Huge Trump Earthquakeby Billy Bambrough

“If everyone embraced this conversation, it would be $500,000, $600,000, $700,000 per bitcoin,” Fink, who led Wall Street’s push into bitcoin and cryptocurrencies last year via a fleet of spot exchange-traded funds (ETFs), said. He said Bloomberg At the World Economic Forum in Davos.

BlackRock has led a push to get a bitcoin spot exchange-traded fund (ETF) approved in the US through 2023, with a fleet of bitcoin funds debuting in January 2024 before rising to become some of the fastest-growing ETFs ever.

U.S. spot bitcoin ETFs surpassed $100 billion in net assets for the first time in November, according to data from Bloomberg Intelligence, while BlackRock’s iShares Bitcoin Trust (IBIT) now has just over $60 billion in assets under management. For management.

Fink warned that inflation fears have spurred interest in bitcoin, with governments increasing spending and stimulus measures in recent years to combat the effects of Covid-era lockdowns.

“If you are afraid of your currency devaluing, you can have an international instrument called Bitcoin that will overcome those domestic fears,” Fink said.

Inflation has soared in recent years, peaking at more than 10%, forcing the Federal Reserve to raise interest rates at a historic rate, driving up debt interest payments and stoking fears of a “death spiral.” Fed officials continue to grapple with a looming “nightmare” scenario of stagflation.

Last year, he was head of Bitcoin and cryptocurrencies at BlackRock He said that sovereign wealth funds are showing interest in Bitcoin side by side Wild speculation that Qatar’s sovereign wealth fund was exploring buying Bitcoin.

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Forbes“Fasten your seatbelt” – Bitcoin price is preparing for a “crazy” week after Trump’s massive crypto bombby Billy Bambrough

“Many of these interested companies — whether we’re talking about pensions, endowments, sovereign wealth funds, insurance companies, other asset managers, family offices — are doing ongoing diligence and research conversations, and we’re playing a role from an education perspective,” Mitnick said in May 2024. Adding that BlackRock has seen “the Bitcoin debate restarted.”

Meanwhile, Donald Trump’s plans to create a Bitcoin reserve similar to America’s gold reserves or oil reserves have thrust Bitcoin into the spotlight.

In December, Trump He confirmed that he plans to create a strategic reserve of Bitcoin in the United States. “We’re going to do something great in crypto because we don’t want China or anyone else…but others embracing it, and we want to be ahead of the curve,” Trump said. He said CNBC.

In July, Republican candidate Donald Trump promised to create a “Strategic National Bitcoin Reserve” and predicted that Bitcoin would do just that. Gold’s $16 trillion market cap trumps during an appearance at the Bitcoin 2024 conference.