{"id":29852,"date":"2024-09-25T16:00:55","date_gmt":"2024-09-25T13:00:55","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29852"},"modified":"2024-09-25T11:15:11","modified_gmt":"2024-09-25T08:15:11","slug":"blackrock-exec-says-bitcoin-misunderstood-as-risk","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/blackrock-exec-says-bitcoin-misunderstood-as-risk\/","title":{"rendered":"BlackRock Exec Says Bitcoin is Misunderstood as a \u201cRisk-On\u201d Asset, Highlights Potential for $1 Million Price by 2025"},"content":{"rendered":"

Head of digital assets BlackRock Robbie<\/strong> Mitchnick<\/strong> claims that Bitcoin<\/strong> has been incorrectly labelled as a “risk-on” asset. Mitchnick<\/strong> underlined in a Sept. 24 Bloomberg interview that the crypto sector has misinterpreted Bitcoin’s place in the world economy.<\/p>\n

“Some in the crypto market have mistook Bitcoin as a risk-on asset, presuming it should behave like equities,<\/em>” Mitchnick said. He clarified that the long-term drivers of Bitcoin are essentially different from those of stocks and occasionally might go in the opposite direction.<\/p>\n

Pointing to BlackRock’s most recent Bitcoin<\/strong> white paper, which names the coin as a “unique diversifier” and a hedge against geopolitical and financial risks, Mitchnick He said that Bitcoin better resembles risk-off assets like gold and government bonds since it is a distributed, non-sovereign asset with no country-specific or conventional counterparty hazards.<\/p>\n

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