BlackRock: Bitcoin's reserve asset appeal increases due to U.S. federal deficit and debt position
2024-09-20 02:37:09
BlackRock assets management giants some executives including BlackRockdesk3cryptocurrencydesktopCrypto News
A document written by a number of executives at BlackRock's asset management giant, including BlackRock's ETF chief investment officer Samara Cohen and head of digital assets Robert Mitchnick, shows that BlackRock has taken note of concerns about the spiraling US $35 trillion fiscal deficit and attributed it to growing institutional interest in Bitcoin. The document outlines: "Growing concerns within and outside the United States about the US federal deficit and debt position have increased the appeal of potential alternative reserve assets as a hedge against possible future events affecting the dollar.
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