- BlackRock CEO Larry Fink spoke at Davos about Bitcoin’s potential as a global hedge against currency debasement, suggesting prices could reach US$500k-700k if institutional adoption continues.
- Coinbase CEO Brian Armstrong envisions Bitcoin reaching “multiple millions” in price, citing institutional interest, US ETFs, and Trump’s proposed Strategic Bitcoin Reserve as key drivers.
- Binance CEO Richard Teng predicts new all-time highs for crypto in 2025, primarily due to expected regulatory clarity under a potential Trump administration.
While much of the attention is on Donald Trump’s return to the White House and his signing of executive orders, the World Economic Forum (WEF) in Davos has quietly started.
And although crypto and Bitcoin are not usually a big topic at the WEF, you’d imagine that it’s at least a topic at the sidelines of the event – especially given Trump’s Bitcoin Reserve promise and his recent memecoin foray.
Larry Fink Doesn’t Mind Talking Bitcoin
One of the first corporate heavyweights that comes to mind when you think pro-Bitcoin is of course Blackrock CEO Larry Fink. Fink has been a staunch proponent of BTC and manages the largest Spot Bitcoin exchange-traded fund (ETF) in the world: the iShares Bitcoin Trust ETF (IBIT) with 569,343 Bitcoin under management.
Related: Vitalik Buterin Reasserts Control Over Ethereum Foundation, Rejects Calls for Change
Speaking at Davos, Fink told Bloomberg that he still believes in the potential of Bitcoin as a global hedge:
If you’re frightened of the debasement of your currency, or you’re frightened of the economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will overcome those local fears.
Blackrock CEO Larry FinkThe CEO of the world’s largest asset manager said he sometimes gets asked by fund managers about how much Bitcoin they should add to their portfolio. Fink says that if everyone would have that conversation, Bitcoin would easily go to “$500k, $600k, $700k…”.
That’s not a promotion, though, as Fink made clear with a cheeky remark:
I’m not promoting it by the way, that is not my promotion.
Blackrock CEO Larry FinkKevin Farrelly, founder of Random Forest Capital, said the discussion was interesting as sovereign wealth funds are no longer pondering if they should invest in BTC, but rather how much.
Coinbase, Binance CEOs Weigh In
The CEOs of the two largest crypto exchanges were also at Davos, busy sharing their thoughts on crypto.
Coinbase CEO Brian Armstrong told CNBC that Bitcoin might one day reach “multiple millions”, adding that we’re at the “dawn of a new day for crypto”.
We have seen just incredible growth and I think it hit an all-time high yesterday, so we feel very good about that. I think over time we’ll see Bitcoin get into the multiple millions price range.
Coinbase CEO Brian ArmstrongHis thesis is mainly based on strong institutional interest, the US Spot Bitcoin ETFs and Donald Trump’s Strategic Bitcoin Reserve, which would likely cause FOMO among other nations, promting them to establish their own BTC reserves.
Related: Hester Peirce to Lead New SEC Task Force to Fix Gensler’s Legacy of Regulatory Confusion
Binance CEO Richard Teng said during a fireside chat at the Davos event that crypto will likely see a new all-time high in 2025, particularly due to increased regulatory clarity under Trump.
If you look at past cycles, this year will be a year that we see a new all-time high for the crypto industry.
Binance CEO Richard TengCredit: Source link
