BlackRock CEO, Larry Fink, warns that Bitcoin may challenge the U.S. dollar as the global reserve currency due to the escalating national debt.
Fink suggests that if the U.S. fails to address its fiscal path, digital assets like Bitcoin could emerge as viable alternatives to the dollar.
The U.S. national debt has exceeded 100% of GDP, and Fink highlights the potential future scenario where all federal revenue goes towards debt servicing by 2030.
Fink emphasizes the role of digital finance and asset tokenization, and BlackRock has already launched the iShares Bitcoin Trust, positioning Bitcoin as a potential asset for diversified portfolios.