BlackRock, a $9 trillion asset management company, has chosen Bitcoin as a protection against a potential Federal Reserve dollar crisis.
BlackRock warns about the potential economic fallouts from the rising US debt pile, and sees Bitcoin as a safety net for a potential $35 trillion dollar crisis.
Bitcoin is viewed as a hedge against geopolitical tensions, fiscal instability, and monetary risks, and offers protection from economic risks and financial uncertainty.
BlackRock acknowledges that Bitcoin remains a highly risky asset due to its volatility, regulatory challenges, and immature systems.