China may shift from US Treasurys toward gold, crypto — BlackRock exec
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Bitcoin’s growing decoupling from US equities is fueling its appeal as a safe-haven asset alongside gold, BlackRock's Jay Jacobs told CNBC.
Central banks, particularly China, may start to shift away from US Treasurys, exploring alternatives such as gold and Bitcoin, according to Jay Jacobs, BlackRock’s head of thematics and active ETFs.
In a recent interview with CNBC, Jacobs said that geopolitical tensions and rising global uncertainty are accelerating diversification strategies among central banks.
He pointed to a long-term trend where countries have been reducing their reliance on dollar-based reserves in favor of assets like gold and, increasingly, Bitcoin (BTC).
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