BlackRock CEO Larry Fink issued a stark warning about the US dollar’s status as the world’s reserve currency.
In his latest annual letter, Fink highlighted the economic challenges faced by the US, particularly its growing national debt.
He suggested that if the US fails to manage its fiscal path, Bitcoin could become a viable alternative to the dollar.
Fink’s concerns focus on the US national debt, which has exceeded 100% of GDP. He cautioned that if this trend continues, it could undermine the US’s global financial position.
With interest on the national debt projected to surpass $952 billion this year, fiscal pressures may increase significantly.
Fink noted that if current trends persist, the US federal government could have a permanent deficit by 2030, with all federal revenue directed to debt servicing.
