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Blackrock CEO issues dire warning over ‘debt ceiling drama’ — Bullish for Bitcoin?

Published 05/31/2023, 10:43 PM
Updated 06/01/2023, 12:20 AM
© Reuters
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Blackrock (NYSE:BLK) CEO Laurence Fink believes the recent “drama” around the United States debt ceiling has deteriorated global trust in the U.S. dollar, something that other analysts predict could provide some tailwinds for Bitcoin (BTC).

Fink’s comments came as U.S. House of Representatives on May 31 passed a highly-anticipated bill to lift the $31.4 trillion debt ceiling. The bill now goes to the Senate, which is expected to spend a few days debating it. The U.S. Treasury has indicated that the deadline for raising the debt ceiling was June 5. Any later, the country could begin defaulting on its debts.

The price of Bitcoin over the last year. Source: Cointelegraph Price Index.

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