BlackRock’s Chief Executive Officer Larry Fink confirmed in an interview that he strongly believes in Bitcoin. He also predicted that the asset’s underlying price could skyrocket to $700k shortly.

The CEO of the largest asset manager in the world says that Bitcoin (BTC) could see drastically higher prices if sovereign wealth funds begin accumulating.

Larry Fink, CEO of BlackRock, has suggested that Bitcoin could reach $700,000 per coin, citing its growing role as a hedge against economic instability. His projection, sparked by a discussion with a sovereign wealth fund,

If everybody adopted that conversation, it would be $500,000, $600,000, $700,000 for bitcoin’ — Larry Fink That’s Larry Fink, chief executive at BlackRock Inc., the world’s largest asset manager, who says that bitcoin could reach $700,