BlackRock: U.S. Treasury's over $40 trillion in support of bitcoin investment theory

Robbie Mitchnick, Global Digital Asset Manager, BlackRock, stated that the long-term investment theory of Bitcoin was gaining support as the United States Treasury debt reached about $40.05 trillion. He noted that concerns about government borrowing had prompted some investors to consider assets beyond the sovereign monetary system. According to Mitchnick, government debt and budget deficits are becoming a major market concern and investors may increase the allocation of scarce assets. Mitchnick also mentioned that Bitcoin also benefited from the inflow of ETF funds, the recovery, the weakening of the United States dollar and changes in the national debt market。