- And this can spur the BTC rate
- Fink also commented on the Fed’s further actions
- He believes that the rate will be raised at least twice more
- And the head of BlackRock is sure that a crisis is coming in the US real estate market
The head of the BlackRock Fund, Lawrence Fin, believes that this whole situation around problems with the US public debt has significantly undermined world confidence in the dollar. This could provide much-needed stimulus to bitcoin and some other crypto assets.
With his opinion on this matter, Fink shared as part of the Deutsche Bank conference on May 31. His comment came shortly after it became known that a bill to raise the national debt limit had been approved by the US House of Representatives.
Although a default crisis appears to have been averted, Fink sees the situation as more than serious. The very fact of the possible bankruptcy of the federal government undermines the status of the dollar.
A decrease in demand for USD and an outflow of capital can favorably affect the BTC rate. Bitcoin has the status of a “digital dollar”, which is why some investors consider it as a hedge asset.
An increase in demand for it, as a better “safe” for savings than USD, will spur the price of the token. Note that Fink’s findings are consistent with Glassnode’s. Earlier, the agency announced that a new breakthrough in the market is coming.
About the Fed and the US real estate market
In addition to the national debt, Fink paid attention to some other issues. So, in his opinion, the Fed will raise interest rates at least twice more.
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Interestingly, the head of BlackRock also touched upon the potential crisis in the real estate market. It is interesting that we have already heard such a thesis from the CEO of JPMorgan.
When two experienced financiers talk about the coming crisis, this is definitely worth thinking about.