In a moment of either sheer brilliance or a particularly inspired tea break, BlackRock CEO Larry Fink has casually mentioned that Bitcoin might just skyrocket to a casual $700,000. Why? Because sovereign wealth funds might decide to play a bit of crypto poker and throw in 2% to 5% of their portfolios into the digital hat.
While lounging at the World Economic Forum in Davos, Fink nonchalantly tossed Bitcoin (BTC) into the conversation as the ultimate tool for when you’re worried about your currency becoming as valuable as a chocolate teapot or your local government deciding to play musical chairs with the constitution.
“Bitcoin,” Fink mused, “it’s like the international version of ‘keep calm and carry on’, but with more zeros at the end. We’re talking half a million, three quarters of a million, maybe even a cool $700K per coin.” He then added, with a twinkle in his eye, that he’s not exactly waving a Bitcoin flag from the rooftops, because, well, it’s as volatile as a caffeinated cat.
BlackRock’s Bitcoin Shopping Spree
In a move that made financial headlines sizzle, Arkham Intelligence breathlessly reported that BlackRock has just dropped a cool $600 million on Bitcoin. This, dear readers, is their biggest crypto splurge of 2025.Â
As of now, BlackRock’s iShares Bitcoin Trust is sitting on a digital pile of 559,262 BTC, which, if you’re counting, is worth approximately $58.51 billion. That’s a lot of digital zeroes.
BLACKROCK IS BACK.
THEY JUST BOUGHT $600 MILLION OF BITCOIN, THEIR LARGEST BUY SO FAR THIS YEAR.
— Arkham (@arkham) January 22, 2025
In a move that suggests they’re not just dipping their toes but doing the backstroke in the crypto pool, BlackRock has expanded its cryptocurrency offerings. They’ve launched the iShares Bitcoin Trust and iShares Ethereum Trust, giving everyone a chance to invest in Bitcoin and Ethereum (ETH) without ever having to leave the comfort of their armchair.
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2025-01-22 23:34