The chairman of multi-billion-dollar United Stated investment management corporation BlackRock “probably” agrees that Bitcoin (BTC) has no value.
In an interview with CNBC on Oct. 13, Larry Fink issued a tentative agreement with JPMorgan CEO Jamie Dimon on Bitcoin’s true worth.
Fink: “I can’t tell” if Bitcoin is going to $80,000 or zero
Famed for his allusions to Bitcoin over the years, Fink, who maintains that he is not a fan of the largest cryptocurrency, nonetheless supports more people investing in the space.
“I’m not a student of Bitcoin and where it’s going to go, so I can’t tell you whether it’s going to $80,000 or zero,” he told the network.
Fink was speaking just after Dimon had reiterated his skepticism on Bitcoin, drawing attention to his lack of faith in its finite supply.
Proponents immediately hit back at his comments, suggesting that only a lack of understanding could lead one to question what is written — and subsequently enshrined by over 12 years of immutable consensus — in the code.
“I have more conversations with people in the street on crypto than anything,” Fink continued.
Bitcoin is up almost 600% since the 2020 block subsidy halving event and has outperformed macro assets throughout 2021.
BTC/USD vs. gold. vs S&P 500 chart. Source: Ecoinometrics/Twitter
Bitcoin lies in wait to surprise critics
Bitcoin traded down from five-month highs Wednesday in what analysts believe should be the final retracement before a retest of all-time highs of $64,500.
Going forward, predictions remain firmly bullish, with calls of not only six figures but up to $300,000 in the coming months.
As Cointelegraph reported, data shows that 2021 is increasingly repeating 2017’s bull run characteristics, with only the blow-off top phase left to complete.