October 13, 2021

BlackRock CEO doubts bitcoin's ability to reach the $80,000 mark

BlackRock CEO doubts bitcoin's ability to reach the $80,000 mark

Larry Fink, CEO of asset manager BlackRock, questioned bitcoin's value and said he doesn't know if the price of the first cryptocurrency will reach the $80,000 mark or collapse to zero.

Fink agreed with a recent statement by JPMorgan CEO Jamie Dimon, who called bitcoin worthless.

I lean more toward Jamie Dimon's opinion. I don't study bitcoin and its trajectory, so I can't say whether it will reach $80,000 or zero. But I do believe in the enormous role of digital currency, said the CEO of BlackRock.

Cryptocurrencies have great potential around the world, he said, but it's not necessarily about bitcoin.

We'll see how things play out in the long term. There will be big wins and losses in this game, Fink added.

In July, the head of BlackRock talked about the company's minimal interest in digital assets among its clients.

Recall that in October, legendary billionaire investor Bill Miller called bitcoin digital gold and compared his bet on it to buying Amazon stock during the dot-com bubble crash.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

View All Posts By Jack Evans