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Bitcoin
BlackRock CEO warns dollar could lose reserve status to Bitcoin
SUMMARY
BlackRock CEO Larry Fink warned that the U.S. dollar faces potential loss of its reserve currency status to Bitcoin and other digital assets. He emphasized in his annual letter that the dollar’s advantageous position is not guaranteed as the national debt has surged.
Fink stated that by 2030, mandatory spending could consume all federal revenues. He added that if debt issues aren't resolved, investors might view Bitcoin as a “safer bet.” Furthermore, BlackRock has significant investments in Bitcoin exchange-traded funds (ETFs), holding about $48 billion in assets. As of now, Bitcoin trades at approximately $83,560.55.
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