Author: Weilin, PANews
On March 31, Larry Fink, CEO of BlackRock, one of the world's largest asset management companies, released a 27-page annual letter to investors. In this letter, Fink unusually warned that if the United States cannot control its continuously expanding debt and fiscal deficit, the US dollar's "global reserve currency status" that has been maintained for decades may ultimately give way to emerging digital assets like Bit.
Bit May Weaken the US Dollar's Reserve Currency Status
On page 20 of the report, Fink raised a thought-provoking question: "Will Bit weaken the dollar's reserve currency status?"
[The rest of the translation follows the same professional and accurate approach, maintaining the original meaning while translating to English.]Overall, Larry Fink's annual letter to investors warns of the risks to the global reserve status of the US dollar and serves as a prediction about the financial future. From tokenizing the reconstruction of capital markets to breaking through the bottlenecks of the required digital identity system, Fink reveals the irrationalities of the existing system and points out the potential new directions that technological and institutional innovations may bring.
