This is thought to benefit Bitcoin (BTC) after Larry Fink, CEO of BlackRock, the world’s largest asset manager, stated that the US debt limit move would be disastrous for the dollar.
According to the news presented by Reuters, Blackrock CEO Laurence Finkon the agenda of the USA debt limit of the subject a disaster for the dollar claimed to create. Market analysts reported this A positive statement for Bitcoin interpreted as.
Fink, your confidence in the US dollar to erosion that you’ve been through while specifying the dollar of this situation depreciation would drag and maybe from leading coin status He said he would drop it. US Federal Reserve (FED) at least two more rate hikes Fink, who thinks that he will didn’t see any evidence he added.
by the US House of Representatives 31 May debt limit bill approved on to the senate presented. The bill, which will be voted on by the Senate soon, if passed more debt will get it.
As a result of these expressions bitcoin with reverse in correlation If the dollar index (DXY), which is known to be to bitcoin It is thought to be a fuel. A similar thought came from Glassnode founder Yann Allemann. Allemann had suggested that DXY would experience a major decline after rising to a certain level.
On the other hand, a market analyst who spoke to the global media about the development Josh Gilberttouched on the limited supply of Bitcoin and for such crisis environments safe harbor He recalled that he had undertaken the task:
The debt ceiling deal once again highlights the utility of Bitcoin. Given its limited supply, it appears to be a safe haven away from the inflationary nature of traditional finance, free from the problems the US government is currently facing.