Mar 20, 202512807 Views
Mar 20, 2025
during 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 token that is "global, scarce, non-sovereign, and decentralized." Mitchnick said, "The recent market conditions seem to be a self-fulfilling phenomenon, actually caused by some research and comments within the industry that tend to portray Bitcoin as a risky asset." He believes that the claim that a severe economic recession in the United States could affect the price of Bitcoin is "baseless." Mitchnick said, "Tariffs may not necessarily be bad news for Bitcoin. As for economic concerns, I am not sure if we will fall into a recession, but a recession could actually become an important catalyst for Bitcoin." Mitchnick also mentioned that despite concerns that macroeconomic uncertainty could affect cryptocurrencies, the price of Bitcoin has risen by about 15% since early November last year. "Clearly, 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."
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