BlackRock Reveals It’s Quietly Preparing For A $35 Trillion Federal Reserve Dollar Crisis With Bitcoin—Predicted To Spark A Sudden Price Boom
As fears swirl the U.S. dollar is on "the verge of a total collapse," the world's largest asset manager BlackRock has warned of "growing concerns" around the spiraling $35 trillion U.S. debt pile that's predicted to drive "institutional interest in bitcoin." "The growing concerns in the U.S. and abroad over the state of U.S. federal deficits and debt has increased the appeal of potential alternative reserve assets as a potential hedge against possible future events affecting the U.S. dollar," BlackRock's exchange-traded fund (ETF) chief investment officer, its head of crypto and its head of fixed income global macro wrote in a paper outlining the investment case for bitcoin. "This dynamic appears to be also taking hold in other countries where debt accumulation has been significant," the authors of the BlackRock paper added. "In our experience with clients to date, this explains a substantial portion of the recent broadening institutional interest in bitcoin." BlackRock, which has around $10 trillion in assets under management, described bitcoin as a "unique diversifier" to hedge against economic and political risk. "While bitcoin has shown instances of short-term co-movements with equities and other 'risk assets,' over the longer term its fundamental drivers are starkly different, and in many cases inverted, versus most traditional investment assets," the paper concluded. Source: Forbes Digital Assets >>> https://lnkd.in/ePufVM9J
BlackRock is now saying the quiet parts out loud!
“Over the long term, bitcoin’s adoption trajectory is likely to be driven by the intensity of concerns over global monetary stability, geopolitical stability, U.S. fiscal sustainability, and U.S. political stability.” Source: Blackrock, Luke Mikic on X
JUST IN: U.S. elections - The Democratic Party releases its platform, with no mention of Bitcoin or crypto
The Democratic Party's official 2024 platform was released yesterday (Monday) on day one of the Democratic National Convention, without any mention of Bitcoin or cryptocurrency. This decision aligns with the past four years of the Biden-Harris administration's hostility towards the industry. Despite the growing significance of Bitcoin and digital assets, neither Kamala Harris or Tim Walz, who are running for president and vice president in the upcoming election this November, has prioritized the inclusion of Bitcoin and crypto in the party's agenda. Source: Bitcoin magazine, www.zerohedge.com
Distribution of Bitcoin Supply
Source: Vivek⚡️@Vivek4real_ on X
Recent data from Bitcoin Magazine Pro shows a significant trend among Bitcoin holders: nearly 75% of all circulating Bitcoin has remained dormant for over six months.
This strong HODLing behavior reflects a steadfast belief in Bitcoin's long-term value, despite market fluctuations. Source: www.zerohedge.com
Bitcoin has dipped below its historical post-halving growth trajectory range
If it returns to this range before year-end, we're looking at a high likelihood of a six-figure value for one BTC. Source: Ecoinometrics
This week we've seen the biggest bitcoin fund inflows since July 22.
Meanwhile Larry Fink just keeps waving it in... Source: www.zerohedge.com
JUST IN: President Putin signs law legalising Bitcoin and crypto mining in Russia.
Russia seems to be acting to keep up with the US. Nation-level as Bitcoin FOMO is heating up. Their entry will boost the hash rate, strengthen network fundamentals, and diversify miner politics. Chinese mining pools control 57% of the BTC hash rate, while the 🇺🇸US has 35%. Source: Cryptoquant, Ki Young
