Dollar

bullish

Hedge

Renewable Energy

BlackRock

<ul>
 <li>BlackRock not being overly bullish on bitcoin means that institutions are gradually getting onboard with the new age financial asset.</li>  
 <li>The decision may have been informed by concerns over the future stability of the U. S. dollar as the world’s reserve currency.</li>  
 <li>This trend in the form of increased adoption of ICOs can lead to adoption of cryptocurrencies in the conventional financial system.</li> 
</ul>  
<p>BlackRock, the world’s largest asset manager, is preparing for a scenario with a U. S. dollar crisis by considering Bitcoin. This is so given the fact that world financial markets are being exposed to issues of inflation, geopolitics and fluctuating currency. The fact that<a href="https://cryptonewsland.com/blackrock-advocates-for-bitcoin-as-hedge-in-global-financial-uncertainty/" target="_blank" rel="noopener noreferrer nofollow"> BlackRock</a> has taken a position in Bitcoin shows that more and more individuals regard cryptocurrencies as an insurance policy against economic uncertainties.</p>  
<h2 class="wp-block-heading" id="h-bitcoin-s-flexibility-in-energy-markets">Bitcoin’s Flexibility in Energy Markets</h2>  
<p>One of the major reasons that proponents put forward in support of mainstream adoption of Bitcoin is the versatility of bitcoin in energy markets. As noted by Kennedy, the miners can flexibly balance the energy consumption depending on the rate fluctuation, a situation that could benefit the grid operators. The capacity to shut down during certain peak demand hours is still able to keep the grid stable while.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/SimplyBitcoinTV/status/1837166491298623800
 </div>
</figure>  
<p><a href="https://cryptonewsland.com/kennedy-jr-making-u-s-the-global-bitcoin-hub-tax-free-btc-mining/" target="_blank" rel="noopener noreferrer nofollow">Kennedy</a> also noted that Bitcoin miners engage in demand response programs in which they are rewarded for using less electricity during peak hours. These programs act as important ‘tools’ to manage power systems especially at a time the world is embracing the use of renewable energy resources. Additionally, Bitcoin mining offers energy producers a consistent revenue stream when energy demand is low, further supporting renewable energy adoption.</p>  
<h2 class="wp-block-heading" id="h-renewable-energy-adoption-and-bitcoin-mining">Renewable Energy Adoption and Bitcoin Mining</h2>  
<p>According to Kennedy, there is a trend indicating that most of the miners are shifting to renewable energy especially in the state of Texas. And with more than half the <a href="https://cryptonewsland.com/bitcoin-mining-difficulty-hits-record-high-as-hash-rate-reaches-new-peaks/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> network already powered by renewable energy, the asset manager’s involvement in Bitcoin could help improve the environmental sustainability of financial systems.</p>  
<p>Moreover, bitcoin mining can be a substitute to more emitting natural gas peaker plants that are used during high electricity usage. In this case, Bitcoin mining is more environmentally friendly through the use of renewable energy and this resonates well with black rock’s investment plans.</p> 
<p>The post <a href="https://cryptonewsland.com/why-blackrock-is-eyeing-bitcoin-as-a-hedge-against-dollar-volatility/" rel="noopener noreferrer nofollow">Why BlackRock Is Eyeing Bitcoin as a Hedge Against Dollar Volatility</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Why BlackRock Is Eyeing Bitcoin as a Hedge Against Dollar Volatility

Table of Contents

Crypto News Land

Other articles published on Sep 20, 2024

DeFi lending protocol Sky to drop wrapped Bitcoin after governance vote

Trump Bull Market Solana Memecoin to Surge 19,000% Before Exchange Listings, As Shiba Inu and DOG...

Jupiter Acquires Coinhall and SolanaFM to Expand DEX Services

Can Ethereum (ETH) Leverage Bullish Signals to Spark a Rally?

Coinpedia Fintech News

DeltaPrime DeFi Protocol Lost $5.9M in Ongoing Exploit: Report

Join our free newsletter for daily crypto updates!