BlackRock digital assets head Robbie Mitchnick said rising US debt and persistent fiscal deficits are becoming a core market concern, pushing some investors toward alternative stores of value like Bitcoin and gold. Federal debt reached roughly $40.05 trillion on August 18. Mitchnick said fiscal sustainability matters more to Bitcoin’s long-term valuation than the pending Clarity Act, arguing the bill’s impact would be felt more strongly elsewhere in crypto, particularly DeFi, than for Bitcoin itself.
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