BlackRock CEO: Dollar Could Lose its Reserve Status to Bitcoin
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BlackRock CEO and Chairman Larry Fink warned that the US dollar could lose its status as the world’s reserve currency to digital assets like Bitcoin.
In his annual letter to investors, Fink noted that while the US has long benefited from this status, it is “not guaranteed to last forever” due to the national debt increasing at a rate three times faster than GDP since 1989.
He also highlighted that mandatory government spending and debt servicing might consume all federal revenue by 2030, leading to a permanent deficit.
Fink cautioned that without controlling its debt and deficit, the USD could cede its position to Bitcoin.
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