BlackRock calls bitcoin a store of value, not a global payment system
BlackRock, a well-known financial giant, spoke about bitcoin, noting that its role is mainly to preserve value. Head of Digital Assets Robert Mitchnick noted that much more infrastructure development, including technologies such as the Lightning Network, is needed to use bitcoin as a global payment system.
Source Incrypted
During 2024, the structure of investors in the BlackRock Bitcoin ETF changed significantly, reducing the share of retail investors from 80% to smaller percentages. Bitcoin also functions as an arbitrage tool for hedge funds and is considered by large financial institutions as a diversification tool. At the same time, Mytchnyk emphasized that bitcoin should not respond to geopolitical risks.
In addition, Mytchnyk drew attention to the role of stablecoins, which can become a convenient tool for moving value in various sectors of the economy, and their use, according to him, will grow even more. He emphasized that although stablecoins can compete with bitcoin in the retail segment, this competition will be limited. In conclusion, the expert urged investors not to try to time the market after the recent turmoil.
