Bitcoin may rise to $700,000 per coin amid concerns about the depreciation of fiat currencies, BlackRock CEO Larry Fink said in an interview at the World Economic Forum in Davos. According to him, small investments from many asset management funds can lead to such an increase in the price of BTC.

Fink spoke about his discussions with sovereign wealth fund managers. According to him, they are considering whether they should allocate 2% or maybe 5% to bitcoin. "If everyone did this, it would raise the bitcoin exchange rate to $500 000, $600 000, $700 000...", — said the head of BlackRock.

He said that he was concerned about the possibility of higher inflation in the near future, and warned that it is dangerous to assume that the peak of inflation has already passed. Fink admitted that he strongly believes in the use of bitcoin, but clarified that he does not advertise it.