Displaying HTML with Blade shows the HTML code

I have a string returned to one of my views, like this:

$text="<p><strong>Lorem</strong> ipsum dolor <img src="images/test.jpg"></p>"

I’m trying to display it with Blade:

{{$text}}

However, the output is a raw string instead of rendered HTML. How do I display HTML with Blade in Laravel?

PS. PHP echo() displays the HTML correctly.