PANews reported on September 20 that according to Benzinga, global asset management giant BlackRock said that as the US federal debt reached 35 trillion US dollars, the market's interest in Bitcoin as a reserve asset has increased. Samara Cohen, BlackRock's ETF chief investment officer, and Robert Mitchnick, head of digital assets, pointed out that concerns about the spread of the US federal deficit and debt problems are driving widespread institutional interest in Bitcoin. Bitcoin is seen as a "unique and diversified tool" to hedge fiscal, monetary and geopolitical risks.
BlackRock CEO Larry Fink has called Bitcoin a hedge against inflation, especially amid rising global tensions and the threat of de-dollarization.
