Ethereum

Bitcoin

BlackRock

Despite Bitcoin’s recent correlation with U.S. stocks, BlackRock’s head of digital assets Robbie Mitchnick argues that labeling BTC as a “risky” asset may be a misnomer.
In an interview with Bloomberg Television today, Mitchnick highlighted Bitcoin’s unique character, which is more in line with a “risk-off” asset that has traditionally been viewed as a safe haven during times of market uncertainty.
Stocks, commodities, and high-yield bonds are considered risky assets that perform well during periods of market optimism, while risk-off assets like gold gain popularity during economic stress. Mitchnick drew parallels between Bitcoin and gold, noting that while both assets have shown periods of temporary correlation with stocks, their long-term correlation is close to zero.
Related News: <a href="https://en.bitcoinsistemi.com/how-will-important-news-from-china-affect-cryptocurrencies-here-are-the-answers/" target="_blank" rel="noopener noreferrer nofollow">How Will Important News from China Affect Cryptocurrencies? Here are the Answers</a>
“Gold shows a lot of the same patterns,” Mitchnick said, adding, “While you have these volatile periods, over the long term the correlation is close to zero.” He emphasized that Bitcoin’s scarcity, decentralization and lack of control by a single government make it more like a risk-free asset.
BlackRock, a global leader in ETFs, offers products that invest in both Bitcoin and Ethereum. While many institutional investors view Bitcoin as “digital gold,” a store of value in times of stress, Mitchnick noted that the narrative for Ethereum is “a little less clear.” ETH, the native cryptocurrency of the Ethereum blockchain, is widely used in decentralized applications but has yet to gain the same perception as a safe-haven asset.
Bitcoin has gained 49% this year, while ETH has gained 15%, bolstered by the approval of ETFs holding both tokens in early 2024.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/interesting-bitcoin-quote-from-blackrock-senior-manager-it-may-be-wrong-to-consider-it-a-risky-asset/" rel="noopener noreferrer nofollow">Interesting Bitcoin Quote from BlackRock Senior Manager: “It May Be Wrong to Consider It a Risky Asset”</a>

Interesting Bitcoin Quote from BlackRock Senior Manager: “It May Be Wrong to Consider It a Risky Asset”

Bitcoin Sistemi EN

Other articles published on Sep 24, 2024

Polymarket Eyes $50 Million Funding Amid Election Betting Surge

US Lawmakers Urge SEC to Repeal SAB 121 Amid Cryptocurrency Custody Concerns

Flappy Bird Relaunches With Plans of FLAPPY Token on Ton Blockchain

Why did Caroline Ellison get such a light sentence?

Polymarket Aims For $50 Million To Launch A New Crypto?

Commonwealth Bank Leads Web3 Efforts

Join our free newsletter for daily crypto updates!