EddieJayonCrypto

 20 Mar 25

tl;dr

Robert Mitchnick, the head of BlackRock's digital asset unit, addressed perceptions of Bitcoin as a risky investment in an interview with CNBC. He emphasized that Bitcoin is global, scarce, non-sovereign, and decentralized, challenging the notion that it is solely a risk-on asset. Mitchnick discusse...

BlackRock's Head of Digital Assets, Robert Mitchnick, aims to dispel perceptions of Bitcoin as a risky investment amidst cryptocurrency market fluctuations. He emphasized Bitcoin's global, scarce, non-sovereign, and decentralized nature, challenging the notion that it is solely a risk-on asset.

U.S. regulators' approval of spot Bitcoin exchange-traded funds marked a turning point, with BlackRock's iShares Bitcoin Trust (IBIT) controlling a significant portion of assets, reaching $10 billion faster than any fund in the ETF industry's history. This approval widens institutional investors' access to the world's oldest cryptocurrency.

Mitchnick argued that economic downturn and tariff policies may not fundamentally impact Bitcoin's price. He highlighted Bitcoin's resilience, noting its 15% increase since the beginning of November and likening it to "digital gold." He also stated that a potential recession in the U.S. could be a big catalyst for Bitcoin, despite uncertainties about the effect of macroeconomic factors on the token.

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