BlackRock CEO Larry Fink warns that the U.S. dollar’s dominance as a global reserve currency may be at risk due to escalating national debt and deficits. He suggests that digital assets like Bitcoin could fill this void. In his 2025 annual letter to shareholders, Fink highlighted the impact of rising debt levels on long-term financial stability. He pointed out that U.S. debt now exceeds 100% of GDP and interest payments on that debt are expected to reach $952 billion in 2025. This suggests a potential point where all federal revenue is consumed by mandatory spending and debt service by 2030, leaving no room for discretionary programs or emergency responses. Fink emphasized the erosion of faith in conventional financial systems and fiat currencies, prompting investors to consider Bitcoin as an alternative hedge against long-term economic uncertainty. This shift in thinking about cryptocurrencies highlights a potential global trend towards accepting Bitcoin as a parallel asset within the global financial order. BlackRock’s commitment to digital assets is further reflected by its recent launch of the iShares Bitcoin Trust (IBIT), which has amassed over $50 billion in assets, marking it as the most successful ETF launch ever. Fink also discussed the potential of asset tokenization—the digital representation of traditional financial instruments on a blockchain. He believes this can reshape the financial landscape by increasing efficiency, reducing costs, and expanding global investor access to capital markets. BlackRock’s own tokenized fund, BUIDL, is among the largest in its category and serves as a symbol of the firm’s commitment to blockchain finance.