Larry Fink, the CEO of the $10 trillion asset management giant BlackRock, sees a world in which the price of Bitcoin (BTC) reaches a whopping $700,000. 

If asset managers allocated at least 2% to 5% of their assets to Bitcoin, the asset could eventually reach the coveted six-figure price point, Fink said on Wednesday during a conversation with Bloomberg’s Francine Lacqua at the World Economic Forum in Davos.

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