BlackRock CEO Larry Fink touted Bitcoin (CRYPTO: BTC) as a tool for overcoming economic and political uncertainties on Wednesday, projecting it to rise to as much as $700,000 if the world catches up with this narrative.
What Happened: During an interview with Bloomberg on the sidelines of the World Economic Forum, Fink stated that Bitcoin could serve as a hedge against local fears related to currency debasement and political instability.
“If you’re frightened of the debasement of your currency or you’re frightened of the economic or political stability of your country, You could have an internationally based instrument called Bitcoin that will overcome those local fears, ” the CEO of the world’s largest asset manager said.