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Bitcoin's Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against 'Possible Future Events' Affecting The Dollar - BlackRock (NYSE:BLK)

Summary by Benzinga
In the face of a $35 trillion federal debt crisis, global asset manager BlackRock Inc. (NYSE:BLK) strategically advocated for Bitcoin (CRYPTO: BTC) as a safeguard, potentially raising the upside potential of the world’s largest cryptocurrency. What Happened: BlackRock noted concerns about the spiraling $35 trillion U.S. fiscal deficit, attributing it as a significant driver of growing institutional interest in Bitcoin, according to a paper autho…
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