Laurence Fink, the Blackrock CEO, believes that the recent debacle around the United States debt ceiling has managed to reduce global trust in the USD. He is of the opinion that this could provide some major tailwinds for Bitcoin.
The comments made by Fink came as the US House of Representatives passed a much-anticipated bill on 31st May- one that would increase the debt ceiling by $31.4 trillion. The bill has now gone to the Senate, which would be spending a few days debating on it. The US Treasury has also indicated that the deadline for increasing the debt ceiling was 5th June. Any later, the country would start defaulting on its debts yet again.
Blackrock CEO Is Expecting Two More Interest Rate Hikes
According to a Reuters report from 31st May, the Blackrock CEO informed the attendees of a Deutsche Bank financial services conference that he expected around two more interest rate hikes from the Federal Reserve in the next few months, where he claimed that he had no visuals on any of the inflation having been reduced over the last year. Many advocates of Bitcoin and cryptocurrency investors have been seeing this crypto token as a hedge against inflation, and the debt fears that have been brought on by the central banks increasing the overall monetary supply.
Along with the Blackrock CEO, Josh Gilbert, another market analyst with eToro, informed Cointelegraph that the debt ceiling debacle did bring BTC into the spotlight once more, as the investors could be seeking finite supply safe haven assets outside the many constraints established by the current financial system.
