Now that Bitcoin (BTC -4.80%) has crossed the $100,000 mark, it’s only natural to ask: Just how much higher can it really go? After all, Bitcoin is up more than 30,000% over the past decade, and is now a $2 trillion asset. Long-term investors may find it hard to envision Bitcoin replicating its past decade’s performance.
The good news is that Bitcoin is likely nowhere close to hitting its true ceiling. According to Larry Fink, CEO of asset management giant BlackRock, Bitcoin could eventually soar as high as $700,000. Based on today’s prices, that would represent a nearly 600% return on investment.
Bitcoin’s path to $700,000
In an interview with Bloomberg at the World Economic Forum in Switzerland, Fink outlined a potential scenario that could send Bitcoin on a path to $700,000. From his perspective, it all starts with institutional adoption of Bitcoin. And the best way to measure this…
