BlackRock Reveals It’s Quietly Preparing For A $35 Trillion Federal Reserve Dollar Crisis With Bitcoin—Predicted To Spark A Sudden Price Boom

Bitcoin has suddenly surged higher following the Federal Reserve's first post-pandemic interest rate cut that's predicted to send the bitcoin price "skyrocketing."

The bitcoin price has climbed to over $62,000 per bitcoin, with traders now turning to a China "shock and awe" earthquake, after the Fed surprised traders with a 50 basis point cut, kicking off what's expected to be a fresh liquidity cycle that could put the bitcoin and crypto market on the "cusp" of a major move.

Now, as fears swirl the U.S. dollar is on "the verge of a total collapse," the world's largest asset manager BlackRock has warned of "growing concerns" around the spiraling $35 trillion U.S. debt pile that's predicted to drive "institutional interest in bitcoin."

"The growing concerns in the U.S. and abroad over the state of U.S. federal deficits and debt has increased the appeal of potential alternative reserve assets as a potential hedge against possible future events affecting the U.S. dollar," BlackRock's exchange-traded fund (ETF) chief investment officer, its head of crypto and its head of fixed income global macro wrote in a paper outlining the investment case for bitcoin.