BlackRock: Clients Buy BTC as a Welfare Measure for US Debt Crisis

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CoinNess
19 hours ago
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According to Decrypt, BlackRock has released a report stating that "growing domestic and international concerns about the US fiscal deficit and debt situation have increased interest in potential hedging instruments. Clients view Bitcoin as an insurance against the US debt crisis. Compared to other asset classes that are affected by macroeconomic variables, Bitcoin is largely insulated from such variables." The report further explains that "Bitcoin does not belong to either the risk-on or risk-off asset class" and that "the characteristics of Bitcoin include limited supply, global nature, and ease of cross-border transfer."

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