Key Takeaways
- BlackRock CEO Larry Fink has discussed Michael Saylor’s deep-rooted belief in Bitcoin.
- Strategy’s stock price has climbed significantly since it started investing in Bitcoin in 2020.
- While Saylor is known for always being bullish on Bitcoin, Fink has also come around to the cryptocurrency.
In a recent appearance, BlackRock CEO Larry Fink recalled a time when Michael Saylor visited his office to promote Bitcoin “when his stock was in the teens.”
The last time MSTR traded below $20 (split-adjusted) was October 2020, just a few months after the company bought its first BTC.
Michael Saylor, the Perennial Bitcoin Bull
In recent years, Saylor has emerged as one of Bitcoin’s most ardent advocates.
Although in 2013 he predicted the cryptocurrency’s days were numbered, by 2020, Saylor had fully orange-pilled, and was ready to turn his company into the world’s largest corporate Bitcoin holder.
Looking back to when MicroStrategy first pioneered the Bitcoin treasury playbook, Fink remembered how Saylor was “a huge believer and it transformed his company.”
Since then, Saylor hasn’t looked back, and MicroStrategy, now known simply as Strategy, has continued to accumulate BTC, through bull and bear markets.
He has consistently predicted extraordinary growth for Bitcoin, including a long-term forecast of $13 million per coin by 2045. But these days, Saylor isn’t alone in his lofty predictions.
Larry Fink: Bitcoin Could Hit $700 Thousand
Like Saylor, Fink, who oversees $12 trillion in assets at BlackRock, is a Bitcoin convert, and has expressed optimism about its future price.
In an interview in January, he said that if even a small allocation of 2–5% became the norm for investment portfolios, the cryptocurrency could reach $700,000.
And while he stopped short of Saylor’s full throated advocacy, stating “I’m not promoting it by the way,” Fink acknowledged that major investors like sovereign wealth funds were starting to get involved in crypto.
James Morales is CCN’s blockchain and crypto policy reporter. He has been working in the news media since 2020, writing about topics such as payments, banking and financial technology. These days, he likes to explore the latest blockchain innovations and the evolving landscape of global crypto regulation.
With an educational background in social anthropology and media studies, James uses his platform as a journalist to explore how new technologies work, why they matter and how they might shape our future.
