BlackRock Digital Assets head criticizes narrative of Bitcoin as a risk-on asset

Robert Mitchnick, head of BlackRock’s digital asset unit, challenged the narrative that Bitcoin is a risky asset, emphasizing its characteristics as ‘global’ and ‘decentralized’. He noted that misconceptions arise from how the cryptocurrency industry portrays it.

BlackRock’s Bitcoin ETF, which manages approximately 100 billion USD in assets, is pivotal in altering institutional investment trends, positioning Bitcoin as a long-term asset despite ongoing market volatility.