As Bitcoin ($BTC) price rebounded above $61,900 on July 3, Jay Jacobs, a Managing Director at BlackRock Inc. (NYSE: BLK), believes that the flagship coin may be propelled further by adoption from institutional investors.
Jacobs, also the U.S. Head of Equity ETFs (exchange-traded funds) at BlackRock, said in mid June, 2026 that the flagship coin is ‘too big to ignore’. He added that Bitcoin’s utility is fueled by the ‘great convergence’ between TradFi (Traditional Finance) and DeFi (Decentralized Finance).
Furthermore, Jacobs noted that nearly 75% of investors seeking to buy the iShares Bitcoin Trust ETF (IBIT) have never owned an ETF before. With the anticipated introduction of crypto regulation through the Clarity Act, a U.S. bill that would establish clear rules for the cryptocurrency industry, BlackRock’s IBIT could attract more institutional investors.
Bitcoin price prediction BlackRock
The Bitcoin price prediction BlackRock executives made has remained the same. In January 2025, Larry Fink, CEO of BlackRock, predicted that Bitcoin could reach $500,000 to $700,000 per coin if sovereign wealth funds and major institutions allocate just 2 to 5% of their portfolios to the asset.
Since Fink’s $BTC price prediction, several sovereign wealth funds – including Luxembourg’s Fonds Souverain Intergénérationnel du Luxembourg (FSIL) and Abu Dhabi’s Mubadala – have increased their Bitcoin holdings. Nonetheless, Robbie Mitchnick, BlackRock’s head of digital assets, has remained cautious in the midterm amid growing investor focus on AI (Artificial Intelligence) stocks, as Finbold explained.
As such, the Bitcoin price prediction BlackRock bets on in the long term could be its CEO’s. Moreover, the company has invested more in Bitcoin through the iShares Bitcoin Premium Income ETF (BITA) and an indirect $BTC stake in Strategy Inc. (NASDAQ: MSTR).
BlackRock’s $BTC portfolio outlook
BlackRock’s $BTC portfolio has declined in 2026 amid the notable crypto correction, as Finbold reported. Specifically, the company’s IBIT saw its $BTC holdings increase from 770,290 on January 1 to 734,740 at press time, representing a drop of about 35,550 $BTC, or 4.61%.
Nonetheless, with Mitchnick anticipating more $BTC headwinds from surging U.S. debt and deficits, Jacobs’ forecast of more $BTC adoption by institutions could materialize.
