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Larry Fink, CEO of BlackRock Inc., stated that Bitcoin’s price could soar to $700,000 if more funds allocate between 2% to 5% of their investments into the cryptocurrency. Despite previously being doubtful about digital assets, Fink is now a strong advocate for Bitcoin as a stable instrument against currency debasement and political or economic instability. 

BlackRock launched two exchange-traded funds last year, iShares Bitcoin Trust and iShares Ethereum Trust, which invest directly in Bitcoin and Ether. Fink’s comments were made during a panel at the World Economic Forum in Davos. Currently, Bitcoin is trading around $103,998, slightly down from its record high of $109,225. Although Fink is not explicitly promoting Bitcoin, he acknowledges its significant potential, cautioning about the high volatility typically associated with cryptocurrencies. 

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**Fun Fact Of The Day**

Governments around the world hold significant amounts of cryptocurrency, often seized during criminal investigations. For instance, the U.S. government is one of the largest holders of Bitcoin.

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