BlackRock CEO warns about debt ceiling drama, could be good for Bitcoin.
Blackrock CEO Laurence Fink believes that recent events surrounding the United States debt ceiling have damaged global trust in the US dollar. Some experts predict that this could lead to increased interest in Bitcoin as a safe haven asset. On May 31, the US House of Representatives passed a bill to lift the $31.4 trillion debt ceiling, which will now be debated in the Senate. The US Treasury has warned that failing to raise the debt ceiling by the June 5 deadline could result in the country defaulting on its debts. Fink expects the Federal Reserve to raise interest rates at least twice in the coming months, and has seen no evidence of inflation being reduced. Bitcoin advocates see BTC as a hedge against inflation and debt fears. However, Matteo Greco, a research analyst at Fineqia International, believes that the current downward pressure on Bitcoin’s price is due to investor fears of the US reaching the debt ceiling.
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