BlackRock: Bitcoin is a unique tool for protecting against global financial risks

BlackRock noted that it is difficult for investors to analyze cryptocurrencies in comparison with traditional assets. However, Bitcoin has become a “safe haven” for many amid growing geopolitical tensions.

“Bitcoin’s price movements continue to reflect its evolving prospects over time as it becomes widely accepted as a global monetary alternative,” the report says.

The first cryptocurrency can become an effective tool for protecting against the ongoing depreciation of the US dollar amid a growing federal budget deficit, analysts noted.

In addition, BlackRock suggested that the correlation of Bitcoin with US company stocks and the key rate of the US Federal Reserve System (FRS) will gradually decrease.

Earlier, experts from the analytical platform CryptoQuant stated that since the beginning of the year, bitcoin balances on centralized exchanges have decreased by 15% - to 470,000 BTC.$BTC $ETH $SOL #AirdropGuide #IntroToCopytrading #BinanceTurns7 #ЛюбимыйТокен #TopCoinsJune2024