#BlackRock CEO Predicts Bitcoin to Reach $700,000#

BlackRock CEO Larry Fink has recently expressed his bullish outlook on Bitcoin in multiple settings, predicting its price could reach $700,000. He believes Bitcoin is a key hedge against currency devaluation and economic instability, especially in the context of high inflation. Fink pointed out that the biggest risk the world faces is investors prematurely concluding that high inflation is over, which could lead to bond yields rising as prices increase. He believes high inflation is here to stay and emphasized the value of Bitcoin in mitigating this risk. Furthermore, Fink stated that BlackRock is collaborating with companies like Microsoft to raise a $30 billion fund to invest in data center construction, and believes the way data centers are powered will trigger a discussion about the future role of nuclear energy. Notably, Goldman Sachs CEO Solomon is skeptical about Bitcoin's threat to the dollar.