Blackrock CEO Issues Stern Warning on 'Debt Ceiling Drama' – Bullish for Bitcoin?
The US debt ceiling is about to be raised, but Larry Fink says confidence in the US dollar is eroding, which could be good news for Bitcoin.
News Join us on social networksBlackrock CEO Laurence Fink believes recent US debt ceiling 'drama' has damaged global confidence in the US dollar, which other analysts predict could provide tailwinds for Bitcoin (BTC).
Fink's comments came as the U.S. House of Representatives on May 31 passed a long-awaited bill to lift the $31.4 trillion debt ceiling. The bill now goes to the Senate, which is expected to spend a few days debating it. The US Treasury has indicated that the deadline for raising the debt ceiling is June 5. Later, the country could start to default on its debts.
314-117: House Passes Biden-McCarthy Debt Ceiling Agreement, Raising Debt Ceiling Through 2025 and Introducing Discretionary Spending Caps During two years.
71 Republicans and 46 Democrats voted "no" to the bill. pic.twitter.com/RdU42whDd5
— The Recount (@therecount) June 1, 2023According to a May 31 Reuters report, Fink told attendees at a Deutsche Bank financial services conference that he expects at least two more interest rate hikes from Deutsche Bank. Federal Reserve in the coming months, saying it has seen "no evidence" of headline inflation reducing.
"I believe we will have a resolution, ... but let's be clear, the United States is jeopardizing its status as a reserve currency."
A lot of bitcoins...
The US debt ceiling is about to be raised, but Larry Fink says confidence in the US dollar is eroding, which could be good news for Bitcoin.
News Join us on social networksBlackrock CEO Laurence Fink believes recent US debt ceiling 'drama' has damaged global confidence in the US dollar, which other analysts predict could provide tailwinds for Bitcoin (BTC).
Fink's comments came as the U.S. House of Representatives on May 31 passed a long-awaited bill to lift the $31.4 trillion debt ceiling. The bill now goes to the Senate, which is expected to spend a few days debating it. The US Treasury has indicated that the deadline for raising the debt ceiling is June 5. Later, the country could start to default on its debts.
314-117: House Passes Biden-McCarthy Debt Ceiling Agreement, Raising Debt Ceiling Through 2025 and Introducing Discretionary Spending Caps During two years.
71 Republicans and 46 Democrats voted "no" to the bill. pic.twitter.com/RdU42whDd5
— The Recount (@therecount) June 1, 2023According to a May 31 Reuters report, Fink told attendees at a Deutsche Bank financial services conference that he expects at least two more interest rate hikes from Deutsche Bank. Federal Reserve in the coming months, saying it has seen "no evidence" of headline inflation reducing.
"I believe we will have a resolution, ... but let's be clear, the United States is jeopardizing its status as a reserve currency."
A lot of bitcoins...
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