Richard

Bitcoin

Hedge

BlackRock

<ul class="news-points wp-block-list">
 <li>BlackRock warns of a potential dollar crisis due to the spiraling U.S. debt.</li>
 <li>Bitcoin price surged to $64,000 following the Fed’s 0.5% interest rate cut.</li>
 <li>Binance’s Richard Teng welcomes BlackRock’s Bitcoin move with “believer club” remark.</li>
</ul>
BlackRock, the world’s largest asset manager, recently sounded alarm on the ballooning U.S. debt, which now tops $35 trillion, and forecasts a potential dollar crisis. Consequently, the firm is showing increasing interest in Bitcoin.
<h2 class="wp-block-heading" id="h-u-s-debt-fuels-bitcoin-adoption">U.S. Debt Fuels Bitcoin Adoption</h2>
With a massive $10 trillion in assets under management, BlackRock is concerned about the rapid rise in U.S. federal debt, which increases by $1 trillion every 100 days. With the debt climbing, BlackRock sees rising interest from institutions turning to Bitcoin as a hedge against possible economic instability.
The company’s chief investment officer and other key leaders highlighted these concerns in a recent report, emphasizing Bitcoin’s appeal as an alternative reserve asset. While traditionally linked to risk assets like equities, Bitcoin’s core long-term drivers are distinct, offering diversification during uncertain times.
Binance executive Ri…
The post <a href="https://coinedition.com/binance-ceo-backs-blackrocks-bitcoin-hedge-against-35t-us-debt/" rel="noopener noreferrer nofollow">Binance CEO Backs BlackRock’s Bitcoin Hedge Against $35T US Debt</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Binance CEO Backs BlackRock’s Bitcoin Hedge Against $35T US Debt

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