BlackRock CEO Sees Crypto Dip as Buying opportunity
BlackRock’s CEO, Larry Fink, believes the current market downturn could lead to another 20% drop. This comes as stocks have been falling for over 30 days. Bitcoin (BTC) has also taken a hit, dipping below $80k, a level not seen since early November 2024.
During a Bloomberg TV interview, Fink shared his optimistic view. “This dip is more of a buying opportunity than a selling one. I wouldn’t take money off the table now. It’s a great entry point,” he said. Despite the potential for further declines,Fink sees strong macro trends in tech innovation,AI,and other U.S. sectors.
Fink expects crypto to recover after the recent sell-off. Earlier, Bitcoin briefly rose above $81k due to fake news about a White House tariff pause. The S&P 500 and cryptocurrencies surged but quickly lost gains when the news was debunked.
Fink also discussed potential interest rate hikes, noting the Federal reserve might still consider them. He added that many CEOs he’s spoken to believe a recession is underway. Currently, Bitcoin trades around $78k, still negative after recent volatility.
