March 31, 2025
BlackRock CEO Larry Fink warns that the U.S. dollar could lose its status as the world’s reserve currency to Bitcoin.
The US dollar risks losing the status of the world’s reserve currency to digital assets like Bitcoin, said BlackRock CEO and chairman Larry Fink.
Fink made the remark in the chairman’s annual letter to investors.
Fink wrote in the letter that the U.S. has benefited from its national currency’s status as the world’s reserve currency for decades. However, it’s “not guaranteed to last forever” as the national debt has grown at three times the pace of GDP since 1989. He further claimed that mandatory government spending and debt service will consume all federal revenue by 2030, creating a permanent deficit.
If the U.S. doesn’t get its debt and deficit under control, the USD could lose its world’s reserve currency status to Bitcoin, Fink added.
Notably, BlackRock is not only the world’s largest asset manager but is also the largest issuer of spot Bitcoin ETFs. As of March 28, BlackRock’s spot Bitcoin ETFs held $48 billion in assets under management as per SoSoValue.
https://finance.yahoo.com/news/blackrock-ceo-warns-dollar-could-150108331.html
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