According to Decrypt, on Wednesday, despite the turbulence in the cryptocurrency market, the head of BlackRock's digital assets department attempted to reverse people's perception of Bitcoin as a high-risk investment. In an interview with CNBC's Squawk Box, Robert Mitchnick, head of digital assets at BlackRock, pointed out that the cryptocurrency industry has always promoted Bitcoin as a risky asset, but in reality, Bitcoin is a "global, scarce, non sovereign, decentralized" token.
Mitchnick stated, "The market situation we have recently seen seems to be a self fulfilling phenomenon, but in reality, it is self harm caused by certain research and commentary within the industry, which sometimes tend to portray Bitcoin as a risky asset." He believes that the claim that a severe recession in the US economy may affect Bitcoin prices is "unfounded. Mitchnick said, "Tariffs are not necessarily bad news for Bitcoin. As for economic concerns, I'm not sure if we'll fall into a recession, but a recession could actually become an important catalyst for Bitcoin
Mitchnick also mentioned that despite concerns about the impact of macroeconomic uncertainty on cryptocurrencies, the price of Bitcoin has still risen by about 15% since early November last year. Obviously, 2024 is a rather extraordinary and historically significant year, "he said." Fundamentally, we believe this is the long-term trend. That's why people see Bitcoin as digital gold
