BlackRock Chairman and CEO Larry Fink said that the price of Bitcoin could jump as high as $700,000 when speaking on artificial intelligence and crypto in a conversation with Bloomberg at the World Economic Forum in Davos.
Fink sat alongside Peng Xiao, CEO of UAE-based artificial intelligence company G42, when the conversation about AI turned to crypt. Xiao indicated that he believes crypto is the currency of AI, while Fink said it’s a hedge against inflation and pessimism about what’s happening in the world.
“As I became a student of crypto, it was very clear to me that crypto is a currency of fear,” said Fink. “But that’s OK ($0.00). If you’re frightened of the debasement of your currency, or the economic or political stability of your country, you can have an international-based instrument called Bitcoin that can overcome those local fears.”
He shared a similar sentiment last July, suggesting that Bitcoin was an investment for those “frightened of the world.”
But it’s an investment that many are considering making, including the operators of a sovereign wealth fund that Fink met with while in …
