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Larry Fink thinks Bitcoin could compete with dollar reserve status

More than digital gold? Bitcoin might also be a competitor to the U.S. dollar’s reserve status, BlackRock CEO Larry Fink thinks.

In his annual investment letter, Fink argued that “ballooning” deficits and debt threaten the U.S. dollar’s global hegemony.

“This year, interest payments will surpass $952 billion—exceeding defense spending. By 2030, mandatory government spending and debt service will consume all federal revenue, creating a permanent deficit,” Fink said.

It’s an idea many are coming around to—and BlackRock is actively betting on it. Not only was iShares the most popular Bitcoin ETF last year, with nearly $40 billion in inflows, but it brought in an entirely new class of investors to the ETF giant:

“More than half of demand for our Bitcoin ETP has been from retail investors, and three-quarters of those investors had never owned an iShares product before,” Fink wrote.

Say what you want about the languid market we’re sitting in—the long view has placed its bets accordingly.

MARA offers $2 billion ATM for proposed Bitcoin purchases

The mining giant is accelerating its Bitcoin bet with an ATM nearly 50% of its entire market cap – link

Digital asset inflows snag second straight positive week

$226 million in positive inflows, the majority into Bitcoin products, per CoinShares – link

ETH/BTC slips to 5-year low

At 0.02193, ETH has shed 39% of its value against Bitcoin this year – link

Strategy Bitcoin purchases $1.92 billion in Bitcoin

Saylor adds another 22,048 BTC to the Strategy balance sheet – link

Trump family enters Bitcoin mining with Hut 8 subsidiary

Eric and Donald Trump Jr. claimed a stake in American Bitcoin, a majority-owned subsidiary of Hut 8 - link

IREN to pause Bitcoin mining growth for AI

The Australian Bitcoin miner will pause mining growth at 52 EH/s - link

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