Robbie Mitchnick, head of digital assets at BlackRock, a company that manages more capital in the world, has announced his perspective on the present and future of Bitcoin (BTC).
Bitcoin looks fundamentally in digital gold in terms of his rarity and decentralized mining, but “it’s not traded for a few days,” said Mitchinick. The specialist explained some BlackRock institutional clients have difficulty with this contradiction.
Without further ado, this situation shows that it was framed with the recent fees for imports in the United States, established by President Donald Trump. As reported by Cryptonotics, these measures created fears of inflation and a prognosis for recession, impacted the market and encouraged the purchase of gold as a “shelter assets.”
“The fees were announced and BTC has dropped like action,” the expert said. “It’s confusing for me because I don’t know why tariffs affect Bitcoin,” he said. He deepened that they shouldn’t clash in this regard, but in the short term they did it about how traders operate this asset.
The reason for this is that “the market has prepared this idea that Bitcoin must operate as a risky asset, but (this approach) is meaningless depending on the foundation,” said BlackRock manager.
at the moment, Bitcoin is 25% below the previous USD 109,300 played in January, but Gold hit a new record today As shown in the following graph, it is USD 3,000 per ounce.
The similarity to BTC gold will make it attractive in 2025, says BlackRock Director
Along with Bitcoin’s recent set-off and pre-custodial actions, Mitchinik added that something similar happened last August. At that time he recalled that there was no “basic basis” in the “dicked autumn” that he experienced during the results of the trade. Carrying trade Japanese yen.
I’ll consider that In the short term, Bitcoin moves in a way that is “opposed to logic”. But he saves it.
So, if you look at more episodes where this happens, “people start training to ignore that short-term noise,” said the BlackRock specialist.
To make it clear, he said the noise is “more driven by investors that leverage speculators and hot money operators and are not actually reflective investors.”
For Mitchinik, that goes beyond the short-term movement. Similar properties of Bitcoin will be attractive in 2025. In this sense, the specialists maintain long-term bullish expectations for this as a value reserve.
Mitchnick’s comments came on Wednesday at the roundtable of digital assets organized by the Blockworks portal. At this meeting he joined the manager of standard chartered banks and on-chain TRM lab analytics firms.
To match the message of BlackRock experts, Trump ordered the US to establish a Bitcoin National Reserve a week agoThe government had confiscated illegal activities. In announcing the initiative, the president classified the asset as “digital gold.”
Meanwhile, various governments around the world are currently researching when adding Bitcoin to their national reserves. In this context, it is permissible to trade as a global eye as a digital gold and risky asset in the future during growing institutional adoption.
(tagstotranslate)bitcoin(btc)
