Blackrock CEO Larry Fink has said that Crypto is now the best sure alternative to a failing global economy.
The billionaire thinks bitcoin, which is currently priced at around $104,200, could go as high as $700,000. But that’s only if people get really nervous about the stability of their own currencies around the world.
And while it’s anyone’s guess whether Fink’s logic is sound and people would indeed flock to Crypto in times of crisis (that extremely common thesis hasn’t yet been proved), it’s certainly true that the election of Donald Trump has the potential to inject plenty of instability into the global economic landscape.
Fink made the prediction about bitcoin’s future price on Wednesday at the World Economic Forum in Davos, Switzerland, while discussing the outlook of technologies like artificial intelligence and cryptocurrency with Bloomberg.
Fink had previously been a skeptic of Crypto in the late 2010s, saying back in 2027 that, “Bitcoin just shows you how much demand for money laundering there is in the world.” But the billionaire changed his mind in more recent years, becoming a true believer in the promise of Crypto by 2021.
Fink seems to not only believe that Crypto is now a positive thing, but that this reliance on fear is actually an asset. The billionaire argued that people can make a lot of money from instability or at least the worries over instability around the world.
