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Wow, the Bitcoin price is now back above $65,000, and as soon as it starts rising, people begin to freak out. Larry Fink, one of the most powerful people in the world and the CEO of BlackRock, said in a new interview during BlackRock's Q4 earnings call that Bitcoin will catch up to the market capitalization of the US housing market.
This means we can see a 38-fold increase in the Bitcoin price, according to Larry Fink, and that Bitcoin prices of $2.4 million are realistic, according to the CEO of the world's largest asset manager. However, if you look more closely, he didn't actually say that about the $2.4 million Bitcoin price; it was just misinterpreted.
He made some ultra- bullish statements, but this quote isn't from him; it was just misinterpreted by news articles or people in the Bitcoin community. We'll look at exactly what he said because it was still massive what he dropped again. But before we look at BlackRock's quarterly report and Larry Fink's statements in detail, here's a very brief recap.
Why is the Bitcoin price rising so massively now? We've fallen a bit overnight, but before that, we saw massive pumping, gaining almost 5% on a daily basis. It 's now comfortably back above $65,000. And if we look at the situation, there's been a massive influx of buying power from Bitcoin ETFs. We see that 8,360 Bitcoins were bought through Bitcoin ETFs yesterday.
That's really significant! Fidelity alone bought 3,630 Bitcoins, Bitwise 1,500, and BlackRock another 1,200. So Bitcoin ETFs are definitely back in the game. A large part of this price increase is certainly due to the inflow from Bitcoin ETFs. Now let's quickly look at what Larry F said in the quarterly report, because it's really something.
Of course, this wasn't everything he said, but let's go through the most relevant statements because they are truly significant. First of all, Bitcoin is its own asset class. This makes it very clear that Bitcoin cannot be lumped together with, for example, other assets. other speculative assets or, for example, crypto.
So he already differentiates between Bitcoin and crypto here. He also talks about Ethereum later, but definitely tells you that Bitcoin is its own asset class. Then he says it doesn't matter who is president, Bitcoin will still flourish, and that's an ultra- bullish statement. I've said that in other videos too.
Even if Camila Harris becomes president, money will still be printed, the money supply will still be expanded, Bitcoin will still flourish. But it could very well be that Donald Trump will push the Bitcoin price a bit more because he might pursue a more expansionary monetary policy and because he'll implement better regulations for Bitcoin.
In fact, Camila Harris also spoke out yesterday in favor of better Bitcoin regulation for Black people. I have no idea what she means by that—that she only favors Black people, that they should somehow have more financial freedom, and so on. I did n't really understand what she meant by that, but you can help me and write in the comments below what Camila Harris's new regulations are supposed to mean for Bitcoin.
Then Larry Fink continues and says we are holding talks with institutions worldwide. about how they should think about digital assets and what kind of asset allocation there should be, and this is very, very important now because BlackRock is a major voice here, and many asset managers and financial advisors simply listen to BlackRock.
When BlackRock says, "Okay, we've done the math or the analysis and we've concluded that every portfolio should have a 5% Bitcoin allocation," many professional investors follow what BlackRock says, or many people are perhaps even partially subservient to BlackRock because BlackRock is simply a very, very powerful instrument.
And when BlackRock says, "Okay, we're going from 5% to 10% allocation," then that's definitely a relevant statement. Larry Fink also said in an interview, "We have to enforce behavior," meaning we have to control people's behavior. This can also be viewed very critically because, okay, now everyone is ultra-bullish on BlackRock— $2.4 million Bitcoin price and so on.
But you always have to view it critically because BlackRock is proactively trying to influence sentiment. Of course, this is now This is practically beneficial for all Bitcoiners because BlackRock is pushing Bitcoin here, but they're still proactively interfering in what people should think, in what they're supposed to think.
You can see that as good or bad; everyone has to judge that for themselves. And he also says he's not just talking about what allocation investment managers and so on should have, but also about which asset classes are okay for people, and he's conveying that information to people. And Bitcoin is definitely one of those asset classes that, according to BlackRock, now has the stamp of approval: "Okay, you can buy this." Many people are always waiting for the go-ahead; they look around at what the big asset managers are doing.
Okay, BlackRock is buying, Fidelity is buying, R is buying, and so on. Then I'll just buy too. And that's what's needed here, for really massive buying power to come in. You need chain effects; the first people have to take the lead. And when the biggest asset managers all buy Bitcoin, then the average person just says, " Okay, let's [ __ ] go, now I'm in too," because I don't want to...
To miss out, and if they're doing that, then it must be good. Let's be honest, many people do n't do extensive analysis; they just look around them. Okay, my three best friends—two of them buy Bitcoin; BlackRock buys Bitcoin; Donald Trump buys Bitcoin—then I'm in too, and I buy Bitcoin as well. And it's often not that complicated.
Many people think, "Okay, now people are doing all sorts of analyses," but that's not true at all. People simply look at what the three or four relevant people around me are doing. If they're all buying Bitcoin, then I'm in too. Then the Bitcoin price rises, then even more people buy Bitcoin, then the Bitcoin price rises even further, then it spreads even more, and so we have chain effects.
But now we have the next big statement: we will see an expansion of the market for digital assets. So he definitely assumes that Bitcoin will continue to rise. He also says that he believes the use of digital assets worldwide will become more and more of a reality, and thus he ultimately implies that Bitcoin will also be used more for payments.
Whether it will also be hodged more is also a question. What constitutes "use"? Is hodling itself a use? I definitely think so. Yes, you don't necessarily have to spend Bitcoin to use it; simply holding it is a great benefit. And then he even goes so far as to say it's an alternative to other commodities like gold.
Firstly, he says Bitcoin is n't some kind of security or anything like that, but a commodity. That's pretty impressive that he understands that. Secondly, he says it's comparable to gold. Gold has a market capitalization; I think it's currently around 16 or 17 trillion, or even a bit more. If Bitcoin were to reach that level, we'd be looking at a Bitcoin price of 500, 600, 700,000 US dollars.
He doesn't explicitly say that Bitcoin will rise to 600,000 US dollars or something like that, but you can infer it from his words. And it's also being interpreted that he said Bitcoin could be as big as the US real estate market, but he didn't quote that or say it in the quote, and that's being read into his statements.
He actually said, "I think it's a..." The question is liquidity and transparency, and this process is no different than years ago when we launched the mortgage market, years ago when the high-interest market emerged. I could imagine that this statement would be interpreted as a connection to the US real estate market, because the mortgage market is important for the rise in real estate prices, as they are financed by debt and mortgage loans are taken out to buy real estate on credit.
And if he ultimately says that Bitcoin is something similar to the mortgage market at the beginning, then it can be interpreted as meaning that Bitcoin will eventually become as valuable as the entire real estate market, although that's a bit of a stretch. Nevertheless, Larry Fang's statements are still extremely bullish and show once again that Bitcoin has really arrived among the major investors.
In addition, many people now assume that it could only take days or weeks until the Bitcoin bull run starts. I would say we need some patience here. We should wait another week or two and then see if this increase is sustainable. I'm also going to El Salvador. The last time I was in El Salvador... The Bitcoin price has risen by $30,000.
My plane hasn't taken off yet, so I need to be patient. Things could really take off soon. If you want to be part of the bull run and expect Bitcoin to rise even further, then I definitely recommend buying Bitcoin from 21Bitcoin. It's super easy, and with the code Bitcoin Hotel, you get up to 20% off the fees when buying Bitcoin.
You can even connect 21Bitcoin directly to your hardware wallet, so you do n't have to rely on their service. You can manage your Bitcoin independently, without third-party risk. I'll link you to 21Bitcoin below. See you there! Let me know what you think of these bullish statements. Peace out!
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