BlackRock CEO Issues Surprise 12-Month Bitcoin And Crypto Price Prediction

BlackRock CEO Larry Fink said he is “very bullish” on bitcoin and crypto over the next 12 months despite a broader downturn that has driven bitcoin down toward $60,000. Fink attributed the crash to excessive leverage that is now stabilizing, noting bitcoin previously topped an all-time high of $126,000 in October last year. He linked his optimism to crypto-powered tokenization and described BlackRock’s bitcoin ETF as an important first step in that direction. JPMorgan analysts also pointed to improving institutional demand in bitcoin futures as “encouraging signs.” The article adds that geopolitical tensions and a hawkish monetary policy continue weighing on bitcoin, while BlackRock’s Rick Rieder suggested an “explosive rally” could be sparked by about $9 trillion in sidelined cash. Updates cited The Block and CNBC as sources.