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Blackrock CEO Says US ‘Debt Ceiling Drama’ Is Bad for Dollar, Bitcoin May Benefit
The CEO of investment management company Blackrock is not excited about the ongoing attempt to raise the US debt ceiling. CEO Laurence Fink recently spoke about the “drama” surrounding the debt ceiling increase while discussing inflation and other issues. Observers believe the ongoing situation may turn out bullish for Bitcoin.
Speaking at a financial services conference organized by Deutsche Bank, Fink rightfully predicted on Wednesday that there would be a resolution to the debt ceiling debate. However, the CEO noted that raising the debt ceiling is bad because it reduces global trust in the dollar. Finks said:
“I believe we’ll have a resolution, … but let’s be clear, the United States is jeopardizing its reserve currency status.”
Fink suggested that the US dollar has remained the leading reserve for a while now. However, he mentioned that the continuous conversations abou
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