BlackRock Calls Bitcoin ‘Hedge Against Global Disorder’, Analyst Sets $600,000 Target

As a seasoned financial analyst with over two decades of experience in traditional markets, I have witnessed firsthand the ebb and flow of global economies and the transformative power of disruptive technologies. The recent statement by BlackRock, the world’s largest asset manager, aligns with my belief that Bitcoin, as a digital gold, offers a unique hedge against increasing global disorder and declining trust in conventional financial systems.


BlackRock, a major U.S. investment management corporation, has again underscored the long-held perspective that Bitcoin could be strategically valuable. In a recent pronouncement, they reinforced an idea that’s been growing in influence within the financial sector for quite some time. The firm believes that Bitcoin can serve as a useful hedge against potential turmoil globally, which might stem from declining trust in governments, banks, and traditional currencies.

Based on his viewpoint, well-known crypto expert Michaël van de Poppe shares similar views as BlackRock, anticipating that the price of Bitcoin could reach up to $600,000 during this market cycle.

BlackRock’s Involvement With Bitcoin

It’s clear that BlackRock entering the Bitcoin market by applying for Spot Bitcoin ETFs in 2023 was a significant milestone for cryptocurrency. As the world’s largest asset manager, this action created waves within the investment community and underscored Bitcoin’s increasing status as a valid investment option.

Originally critical of Bitcoin, the CEO of BlackRock, Larry Fink, now advocates for investors considering Bitcoin as a means to safeguard their portfolios from inflation. In his view, Bitcoin functions as a protective asset class.

In much the same vein, Blackrock suggests that Bitcoin might serve as a safeguard during periods of rising international turmoil and dwindling confidence in governments, financial institutions, and traditional currencies. This observation follows widespread inflation worries in economies worldwide, which have been prevalent since the start of this year.

The company shares the viewpoint of numerous investors, who anticipate that Bitcoin may assume a vital function in safeguarding wealth due to growing flaws in traditional financial systems. For instance, Michael van de Poppe, a dedicated Bitcoin proponent, embodies this perspective.

In response to a social media post about BlackRock’s remarks, van de Poppe pointed out that Bitcoin’s current value is significantly undervalued. According to the analyst, a fair valuation would place Bitcoin between $300,000 and $600,000. At its current trading price of $57,983, Bitcoin has experienced an increase of 417% and 935%, respectively, from those potential targets.

This explains it all.

The current valuation of #Bitcoin is still super low.

I wouldn’t be surprised with $300,000-600,000 this cycle.

— Michaël van de Poppe (@CryptoMichNL) September 12, 2024

What’s Next For BTC?

Even though Bitcoin (BTC) has risen by 3.89% over the past week, it remains stuck below $58,000 for what feels like an eternity. This is due to Spot Bitcoin ETFs experiencing another day of outflows after they had seen two days of inflows following a series of consecutive weeks with outflows. This might indicate a slowing down of the increasing bullish attitude among institutional investors.

Technically speaking, Bitcoin encounters crucial barriers at various important price points. Initially, it needs to surpass the $60,000 milestone, followed by a push beyond $62,000 with considerable positive energy.

BlackRock Calls Bitcoin ‘Hedge Against Global Disorder’, Analyst Sets $600,000 Target

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2024-09-13 23:46