In recent days, Bitcoin quote Around US $ 105,000, although in key moments it reached new historical maximums. An example of this occurred on the day of the assumption of Donald Trump As president of the United States, when the cryptocurrency exceeded US $ 109,000. However, for Larry FinkBlackrock CEO, this price level is just the beginning.
According to the leader of the world’s largest investment fund, Bitcoin has the potential to reach US $ 700,000 in the future.
During an interview with Bloomberg in the Davos World Economic Forum, FInk explained his perspective on cryptocurrency: “If you worry about the devaluation of your local currency, the economic or political stability of your country, Bitcoin is an alternative with international support that functions as a value shelter. I firmly believe in this instrument. ”
The institutional interest in Bitcoin is also growing. Fink revealed that Blackrock has conversations with several sovereign funds that evaluate between 2% and 5% of their wallets to cryptocurrency. According to him, if this interest expands to more institutional investors, Bitcoin could shoot up to 500,000, 600,000 or even $ 700,000.
Trump, regulation and impulse to Bitcoin
One of the factors that could accelerate this upward scenario is the position of the Trump administration in front of the crypto sector. Regulation in the United States will play a fundamental role in Bitcoin’s mass adoption, both by financial institutions and the general public.
A key aspect of this strategy is the possible creation of a strategic Bitcoin reserve by the US government, one of Trump’s campaign proposals. This initiative, in case of completion, could position the United States as a dominant actor in the global crypto ecosystem.
Although in its beginnings Trump was skeptical about cryptocurrencies, his position has evolved considerably. Not only has he launched his own platform based on blockchain and two memecoins, but has made symbolic gestures that reinforce his support for the sector. In his electoral campaign, he even suggested that the United States will become the “crypt capital of the world.”
An episode that generated great impact on the markets occurred in September, when Trump used Bitcoin as a means of payment to buy hamburgers in a New York bar. This gesture was interpreted as an explicit support for the adoption of cryptocurrency and helped consolidate its image as an ally of the sector.
Musk, SEC and the new crypto era
Trump’s decisions in his government team have also had an impact on the crypto ecosystem. One of the most striking ads was the designation of Elon Musk at the head of the Government Efficiency Department, whose acronym in English (Doge) were interpreted by many as a wink to Dogecoin, the popular Memecoin backed by Musk.
Another key designation was that of Paul Atkins, a renowned defender of the crypto industry, as president of the Bag and Securities Commission (SEC). Its arrival at the SEC is considered a change of approach to the traditionally restrictive position of the organism. In fact, the news of his appointment coincided with the moment when Bitcoin exceeded $ 100,000, which reinforces the expectation of a more favorable regulatory environment for cryptocurrencies.
With these factors at stake, Larry Fink’s vision of a Bitcoin at $ 700,000 no longer seems so far -fetched. If the upward trend continues and institutional support is strengthened, cryptocurrency could be on their way to reach new milestones in its history.
Source: Ambito
