China may shift from US Treasurys toward gold, crypto — BlackRock exec

Date: 2025-04-25

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).“This whole diversification away from traditional assets and into things like gold and also crypto [...] probably began three, four years ago,” Jacobs explained.He said that recent geopolitical fragmentation has inten...

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