{"id":126177,"date":"2025-03-31T19:16:10","date_gmt":"2025-03-31T19:16:10","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126177"},"modified":"2025-03-31T19:16:10","modified_gmt":"2025-03-31T19:16:10","slug":"bitcoin-could-reduce-dominance-of-us-dollar-blackrock","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126177","title":{"rendered":"Bitcoin could reduce dominance of US dollar \u2014 BlackRock"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe US dollar could lose its status as the world\u2019s reserve currency to Bitcoin or other digital assets if the United States does not get its debt under control, according to BlackRock CEO Larry Fink.<br \/>\nFink wrote in his Annual Chairman\u2019s Letter to Investors that \u201cdecentralized finance is an extraordinary innovation\u201d that makes \u201cmarkets faster, cheaper, and more transparent.\u201d But \u201cthat same innovation could undermine America\u2019s economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar.\u201d<br \/>\nAccording to Trading Economics, the US debt equaled 122.3% of the country\u2019s gross domestic product in 2023. That is a considerably higher percentage than the 105% observed in 2018. Moody\u2019s Ratings retains the US\u2019s AAA credit rating but has downgraded its outlook to negative, indicating a possible future rating downgrade.<br \/>\nThe US\u2019s Joint Economic Committee wrote that as of March 5, the country\u2019s gross national debt was $36.2 trillion, growing $1.8 trillion, or roughly $4.9 billion per day, over the past year and $12.8 trillion in the past five years. The Bipartisan Policy Center warned this month that the US could default on its debt as early as July 2025.<br \/>\nBitcoin (BTC) has been branded as a safe haven for investors who are looking to avoid the perils of fiat currency, including inflation. Some believe that the end of the debt ceiling suspension could lead to a Bitcoin price boom. Others think, as Fink has stated, that the dangers of the national debt could increase Bitcoin adoption.<br \/>\nRelated: Bitcoin reserve won\u2019t solve US debt crisis: Think tank co-founder<br \/>\nIn 2025, cryptocurrency has gained prominence as an asset class due to adoption by countries such as the US and companies like Strategy. However, some argue that stablecoins could, in fact, increase the dominance of the US dollar.<br \/>\nFink: Tokenization is democratization<br \/>\nIn the letter, Fink says that \u201ctokenization is democratization\u201d with the technological innovation \u201cenabling instant buying, selling, and transferring without cumbersome paperwork or waiting periods.\u201d<br \/>\nIf every asset ends up being tokenized, Fink said, \u201cit will revolutionize investing. Markets wouldn\u2019t need to close. Transactions that currently take days would clear in seconds. And billions of dollars currently immobilized by settlement delays could be reinvested immediately back into the economy, generating more growth.\u201d<br \/>\nRelated: Centralization and the dark side of asset tokenization \u2014 MEXC exec<br \/>\nTokenization democratizes access, shareholder voting, and yield, Fink wrote. According to RWA.xyz, the tokenized real-world assets market amounts to $19.6 billion. There are currently around 93,000 asset holders, with 174 issuers. Industry projections indicate that the market could reach $4 trillion to $30 trillion by 2030.<br \/>\nBlackRock\u2019s own BUIDL real-world tokenized asset fund is currently the largest such fund available for trading, with Tether Gold and Franklin Templeton\u2019s BENJI funds coming in second and third place, respectively.<br \/>\nMagazine: Tokenizing music royalties as NFTs could help the next Taylor Swift<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-dominance-dollar-blackrock-larry-fink?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe US dollar could lose its status as the world\u2019s reserve currency to Bitcoin or other digital assets if the United States does not get its debt under&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126177"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126177"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126177\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126177"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}