BlackRock CEO Larry Fink shared his thoughts on Bitcoin's potential and global economic trends during an interview at the World Economic Forum.

The CEO of the largest asset manager in the world says that Bitcoin (BTC) could see drastically higher prices if sovereign wealth funds begin accumulating.

BlackRock CEO Larry Fink said that Bitcoin could climb as high as $700,000 per coin, driven by collective, small allocations from asset managers worldwide.

Coinbase CEO Brian Armstrong said that Bitcoin is a nice check and balance on deficit spending and high inflation. The executive spoke during the World Economic Forum in Davos highlighting the way forward for the crypto industry under Trump’s administration.

The CEO of Bitcoin ETF giant BlackRock said that continued adoption of BTC could push the asset's price to a multiple of the current mark.

The Bitcoin price jumped 2% in the last 24 hours as this crypto wallet presale closes on the $8 million milestone.

Bitcoin, the world's largest cryptocurrency, approached the previous session's record high on Tuesday in choppy trading as the top U.S. markets regulator unveiled a plan to overhaul rules for the sector.