On January 23, Financial Associated Press reported (editor Liu Rui) that Larry Fink, the CEO of Blackrock, spoke at the World Economic Forum in Swiss Davos about Global macroeconomics and topics such as Cryptos.

He stated that investors prematurely concluded that high inflation has already ended, which actually increases the likelihood that bond yields will rise along with soaring prices, possibly evolving into a global risk. He also mentioned the global situation is unstable and the currency is depreciating. $Bitcoin (BTC.CC)$ It could potentially soar to $0.7 million.

The warming of inflation has not yet ended.

Discussing the current state of the global macro economy, Fink stated that his view contradicts the mainstream thoughts in the market, which he believes the trend of rising inflation is not as many perceive it to be over, "I can really foresee that inflation will rise."

Fink stated: "The biggest risk we face globally today is that the world believes we have passed the peak of inflation."

It is worth mentioning that a few days ago, Blackrock's Vice Director Philipp Hildebrand also expressed a similar view. He claimed that the largest current global risk is that "inflation is not only difficult to eliminate, but will persist."

He also warned that if inflation proves to be more stubborn than expected, investor bets on interest rate cuts by the Federal Reserve may be excessive.

The newly inaugurated President of the USA, Trump, promised several times during his campaign to cut taxes and loosen regulations while massively increasing tariffs on imported goods. Many experts have previously warned that these measures are likely to reignite inflation in the USA and impact the long-term outlook of the USA economy.

Bitcoin could soar to $0.7 million.

Additionally, Fink also discussed his insights on Cryptos. He stated that, as he has gained more understanding of the Cryptos market in recent years, he concluded that Cryptos are a "fear currency" that can be used as a hedge against market pessimism regarding inflation and global situations.

He stated:

"When I started researching Cryptos, it became very clear to me that this is a 'fear currency,' but that's not a bad thing. If you are worried about the devaluation of your country's currency, or concerned about economic and political instability, you can choose an international tool called Bitcoin, which can overcome these local fears."

Looking ahead to Bitcoin's future, he even provided an astonishing conclusion: Bitcoin could potentially soar to $0.7 million.

"Earlier this week, I spoke with a representative from a sovereign wealth fund. We specifically discussed whether they should allocate 2% or 5% of their portfolio to Bitcoin. If everyone engages in such discussions, the price of Bitcoin could soar to $0.5 million, or even as high as $0.7 million," he added.

It is worth mentioning that in the past few years, Fink's attitude towards Cryptos has changed 180 degrees. He was highly skeptical of Bitcoin in his early years and even referred to it as a 'money laundering tool' in 2017, expressing his concerns about its association with illegal activities.

However, over time, Blackrock has become increasingly associated with digital assets, launching Bitcoin and Ethereum-related spot ETF products, and attracting billions of dollars in Inflow over the past year, with their Bitcoin spot ETF assets under management even surpassing their Gold ETF.

Editor/rice