Annual letter from BlackRock CEO Larry Fink to investors:
▶️The dollar is not guaranteed to remain the world's reserve currency — investors may begin to see BTC as a more reliable asset.
▶️U.S. national debt is growing three times faster than GDP since 1989. By 2030, the entire budget could go to debt service payments.
▶️BTC and tokenization could pose a threat to the dollar, but also an innovation that simplifies the financial system.
▶️Decentralized finance (DeFi) accelerates and reduces the cost of markets, increasing transparency.
▶️IBIT (BlackRock's spot-ETF) became the largest in history, exceeding $50 billion AUM in less than a year.
▶️More than 50% of the demand for IBIT comes from retail, 75% from new iShares clients.
▶️BTC could surpass the $700,000 mark.