BlackRock CEO: Amid concerns about currency devaluation, Bitcoin could reach $700,000

PANews reported on January 23, according to Cointelegraph, BlackRock CEO Larry Fink discussed the future of digital currency in an interview at the World Economic Forum Davos meeting. He stated that due to concerns about currency devaluation, the price of Bitcoin could potentially rise to $700,000 per coin.

Fink said: "A collective allocation of 2% to 5% by asset management companies may drive up the price of Bitcoin. If you are worried about currency depreciation or concerned about a country's economic or political stability, you can own an international tool - Bitcoin which can overcome these localized fears." However, he clarified that he is not promoting Bitcoin. Fink also expressed his concern that inflation might increase over the next 12 months and warned it would be dangerous to assume that inflation has peaked.