BlackRock releases white paper detailing Bitcoin's position as a unique asset class
BlockBeats News: On September 19th, BlackRock, the world's largest asset management company, recently released a 9-page white paper detailing the unique position of Bitcoin as a major asset class. The white paper points out that Bitcoin is not only a "unique diversification tool", but also difficult to evaluate using traditional asset analysis methods. BlackRock emphasizes that Bitcoin is "almost unaffected by macroeconomic factors that affect most traditional asset classes," making its performance and price predictions challenging. Although Bitcoin is still considered a 'high-risk' asset, it has performed better than all other major asset classes in 7 out of the past 10 years. BlackRock believes that the volatility of Bitcoin prices partially reflects its evolving prospects as a global currency alternative. The white paper also mentions that due to Bitcoin's apparent independence from global macro factors, some investors view it as a "safe haven" option in geopolitical tensions.