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BlackRock CEO Larry Fink said bitcoin will hit $700,000 amid currency devaluation fears, while Goldman Sachs CEO David Solomon said btc is not a threat to the dollar.
The comments from Wall Street's top CEOs come as the largest cryptocurrency by market cap saw a price drop of more than 3% in the last 24 hours to trade at $102,661.93 as of 1:09 a.m. EST, according to <a target="_blank" href="https://coinmarketcap.com/currencies/bitcoin/”>CoinMarketCap.
Larry Fink sets btc price target at $700,000
Speaking to Bloomberg on January 22 during the World Economic Forum in Davos, Switzerland, BlackRock CEO Fink <a target="_blank" href="https://x.com/i/broadcasts/1mnGeAAzpRoGX?t=53m54s”>saying how small btc Allocations of between 2% and 5% by asset managers would be enough to push the price of bitcoin to the expected target of $700,000.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”7.992277992278″>
“If you are afraid that your currency will degrade… you can have an international instrument called bitcoin… I am a big believer…” – Larry Fink of <a target="_blank" href="https://twitter.com/BlackRock?ref_src=twsrc%5Etfw”>@BlackRock pic.twitter.com/C3VJQpqTML
—Michael Saylor (@saylor) <a target="_blank" href="https://twitter.com/saylor/status/1882110599032950806?ref_src=twsrc%5Etfw”>January 22, 2025
He added that any investor who is concerned about the debasement of their local fiat currency or who questions the political and economic stability of their country can use “international” bitcoin to overcome “local fears.”
bitcoin is not a “threat” to the US dollar
Speaking with CNBC in another interview At Davos, Goldman CEO Solomon dismissed btc as a “threat” to the dollar and said he is a “big believer” in the dollar by labeling it. btc as an “interesting speculative asset.”
According to the CEO of Goldman Sachs, the “underlying technology” of bitcoin has been a focus of research at the Wall Street bank, with the company exploring how the blockchain can be used to “create less friction” in the financial system traditional.
He also noted that banks still face challenges and regulatory limitations when it comes to using bitcoin, saying: “We can't own, we can't have capital, we can't engage with bitcoin at all.”
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