In a letter to shareholders, the chairman of the world’s largest asset manager warned about the soaring U.S. debt and the possible competition that bitcoin poses to the U.S. Dollar.
The US Dollar could risk losing its status as the world’s reserve currency to Bitcoin if the U.S. doesn't control its debt and deficits, said BlackRock CEO Larry Fink.
The move contrasts with developments in other countries, such as the U.S. and U.K., where some pension funds have begun to experiment with crypto exposure.
Ever since its creation in 2009, Bitcoin has been the king of the cryptocurrency world. It now possesses a market cap of $1.67 trillion, comprising 59% of the entire cryptocurrency market all by...