Picture this: amidst a never-ending game of tariff chicken between the U.S. and China, and the specter of inflation waving like an overenthusiastic carnival barker, Bitcoin decides to do a Rocky Balboa impression and edge tantalizingly close to a $100,000 knockout punch. Crypto fanatics jump aboard the hype train, convinced BTC is the new dollar’s cooler, rebellious cousin.
Enter Jay Jacobs, the head honcho of Equity ETFs at BlackRock, who recently dropped some wisdom in a weekend cameo on CNBC. His main message? Bitcoin loves chaos—it’s basically the international finance equivalent of finding your car keys in the fridge during a power outage.
No sooner did this tidbit hit the airwaves than social media platform X (formerly Twitter, formerly something else, always morphing like a financial Transformer) exploded with claims louder than a stockbroker’s phone during a market crash.
Among the cacophony, one particularly persistent idea emerged: Jay Jacobs allegedly revealed that China plans to offload some of its U.S. Treasury bonds and roll the dice on Bitcoin and gold. Because, you know, when your geopolitical life is a soap opera, what’s better than shiny metal and magical internet money?
“According to @BlackRock, China may shift focus away from US Treasury bonds toward Bitcoin ($BTC) and gold. This potential reallocation by one of the world’s largest holders of US debt could represent a significant change in China’s reserve strategy and potentially impact both…”
— Allen Boothroyd (@AllenatHellix) April 28, 2025
Then you had diverse X handles like “cryptopolitan” feeling like they held the golden ticket — or at least the inside scoop on China’s Big Crypto Adventure.
So, before everyone starts building altars to Satoshi and cashing in their piggy banks, let’s unravel this financial yarn and fact-check these Tweets that have been circulating faster than conspiracy theories at a family reunion.
Did Jay Jacobs Really Say China Is Dumping Treasuries to Buy Bitcoin Like It’s Going Out of Style?
On the fateful day of April 25, CNBC graced us mortals with a less-than-four-minute interview featuring Jay Jacobs, part of their show ’Squawk Box Asia,’ hosted by Martin Soong and Chery Kang. The gist? Jacobs paints a picture of geopolitical risk—think Trump’s tariff wars—as a turbo booster for both stock market unpredictability and crypto’s dazzling rise.
At precisely 2 minutes and 55 seconds into this brisk chat, Martin Soong poses the hypothetical: “After Russia’s invasion of Ukraine, $300 billion of Russian assets got frozen in Belgium. Could this freeze push countries like China to stop parking their cash in U.S. treasuries and instead stuff it into gold and crypto?”
Jacobs, never one to shout down a good episode of geopolitical drama, replies: “Central banks have been edging toward diversification beyond the dollar, spreading their love among gold and crypto for decades now. Back in 2023, BlackRock launched our ‘Megaforces’ investing framework where we flagged geopolitical fragmentation as a monumental policy driver. So yes, Bitcoin’s rise is kind of like the universe’s way of saying, ‘Hold my beer.’”
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2025-04-28 11:53