Blockchain analytics firm Arkham has revealed that BlackRock, the world’s largest asset management company with over $10 trillion under management, acquired an additional $1 billion worth of Bitcoin (BTC) last week. This significant purchase brings BlackRock’s total Bitcoin holdings to 572,616 BTC, valued at approximately $58.43 billion. The investment underscores the firm’s growing confidence in the flagship cryptocurrency, which now accounts for 2.7% of the total Bitcoin supply.

Beyond Bitcoin, BlackRock’s crypto portfolio also includes $3.75 billion worth of Ethereum (ETH) and $72.02 million in USDC stablecoins, showcasing its diversified approach to digital assets.
In a bold prediction during the World Economic Forum (WEF) in Davos, Switzerland, BlackRock CEO Larry Fink stated that Bitcoin’s price could surge to $700,000 per BTC if sovereign wealth funds begin allocating a small percentage of their portfolios to the digital asset. Fink emphasized Bitcoin’s potential as a hedge against inflation and geopolitical instability, which he described as “local fears” affecting traditional currencies.
“If you’re frightened of the debasement of your currency or the economic and political stability of your country, Bitcoin offers an internationally based instrument to overcome those fears,” Fink said. He highlighted conversations with sovereign wealth funds exploring allocations of 2% to 5% in Bitcoin, a shift that could drive its price to astronomical levels.
BlackRock’s aggressive accumulation aligns with a broader trend of institutional interest in Bitcoin as a digital store of value. As inflation fears persist and geopolitical tensions rise, Bitcoin is increasingly seen as a hedge against traditional economic uncertainties.
Also Read: BlackRock Adds $1 Billion in Bitcoin, Now Controls 2.7% of BTC Supply Amid Bold Market Moves
This latest investment solidifies BlackRock’s position as a major player in the cryptocurrency market, with implications for the broader adoption of digital assets. If sovereign wealth funds follow suit, Fink’s $700,000 price target may not be far-fetched, potentially ushering in a new era of Bitcoin as a mainstream financial instrument.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.