BlackRock: Bitcoin is not a risky asset, its positioning as digital gold will become increasingly clear.

BlackRock executives believe that bitcoin's long-term value is solid, and market misunderstandings and macro environment fluctuations should not affect its positioning as "digital gold". (Synopsis: BlackRock CEO warns: The market underestimates the inflationary pressure brought by Trump, and the Fed may not be able to cut interest rates) (Background supplement: The Panama Canal is really controlled by the United States!) BlackRock acquires Li Ka-shing Port Company "Yangtze River Hutchison" for $22.8 billion Robert Mitchnick, head of digital assets at BlackRock, the world's largest asset manager, said in a recent interview with CNBC's Squawk Box that bitcoin should not be considered a risk asset, and criticized some comments within the crypto industry that exacerbate market misunderstandings about bitcoin. He stressed that bitcoin has characteristics such as "global, scarce, non-sovereign and decentralized", which is different from traditional high-risk investment classes. Industry narrative affects market perception Mitchnick pointed out that the recent market reaction to bitcoin's volatility is partly due to the industry's deliberate rendering of its risk attributes, which has led investors to misunderstand. He said: "This phenomenon is actually the result of self-harm within the industry, with many reviews portraying Bitcoin as a risky asset, but this is not in line with its essence. In addition, he believes that the claim that a recession in the United States will affect the price of bitcoin is "unfounded." Instead, he believes a recession could instead be a catalyst for Bitcoin. He further explained: "Tariff policies are not necessarily negative for Bitcoin, and if the economy does fall into recession, it may strengthen the value of Bitcoin as a safe-haven asset." In response to the macro environmental variables of concern, Mitchnick believes that the high interest rate environment may indeed affect the price of Bitcoin, but this is the same situation faced by traditional assets such as the stock market. He emphasized: "Bitcoin's core value has not changed, and the trend of the market treating it as digital gold continues. As for the outlook, he believes that bitcoin's positioning as a "global, non-sovereign" asset will continue to attract inflows, especially in an economy with increased uncertainty, and investors may prefer to use it as a safe haven. ETFs drive institutional inflows Since November 2023, the price of Bitcoin has risen by about 15%. Mitchnick believes that 2024 is a "historic year" and emphasizes the market's recognition of Bitcoin's long-term value, making it increasingly seen as "digital gold." U.S. regulators approved spot bitcoin ETFs in early 2024, driving inflows from institutional investors. To date, the total assets of Bitcoin ETFs have reached $100 billion, of which BlackRock's iShares Bitcoin Trust (IBIT) holds about $46.5 billion, setting a record for the fastest ETF industry to exceed $10 billion in assets. Related reports BlackRock CEO warned: The market underestimated the inflationary pressure brought by Trump, and the Fed may not be able to cut interest rates The Panama Canal is really controlled by the United States! BlackRock acquires Li Ka-shing Port Company "Yangtze River Hutchison" BlackRock 150 billion magnesium model portfolio "Open Allocation Bitcoin Spot ETF" for $22.8 billion! Will institutional buying drive new gains? "BlackRock: Bitcoin is not a risk asset, digital gold positioning will become clearer" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".