Larry Fink believes that there is currently “pent-up demand for digital assets”
In October 16, Cointelegraph reported that the US Securities and Exchange Commission had allegedly approved a spot Bitcoin ETF. Amidst rumors, the price of BTC exceeded $30,000, but after a corresponding denial by the SEC and BlackRock, the information disappeared from the publication’s website.
Being in a state of strong volatility, the Bitcoin rate by the end of the day exceeded $28,000. However, currentlh the main crypto coin is again in the growth stage. According to Coinmarketcap, the price of BTC is around $28,489.
BlackRock CEO Larry Fink believes that the rally of the first crypto coin indicates “pent-up demand for digital assets.”
“Part of the rally goes well beyond rumors. I think that the jump is associated with the flight of investors into “quality”, taking into account all the problems associated with the current Israeli war and global terrorism. More and more people are looking to buy treasury bonds, gold or cryptocurrency. […] I am convinced that digital assets will play the same role,” said Fink.
The head of BlackRock emphasized that he heard “from clients all over the world about the need for cryptocurrency.”
And the founder of SkyBridge Capital, Anthony Scaramucci, again voiced a positive forecast for the future of Bitcoin. According to him, BTC’s market capitalization could “easily” reach $15 trillion.
The crypto enthusiast’s forecast provides for an increase of 2600% in the figure, which exceeds $540.9 billion. Scaramucci believes that with such capitalization, the cost of Bitcoin will be about $700,000.
The SkyBridge founder does not rule out that the main cryptocurrency is “in many ways more valuable than gold” and could become a store of value in the future. But it is unlikely that the digital asset will come close to the “universal standard of money” that some enthusiasts want.
“But strange things can happen when you see countries hostile to the US trading Bitcoin or anything else denominated in gold, distancing themselves from the dollar because the US has used its currency to assert personal geopolitical will,” summed up the investor.
