tldr; BlackRock’s head of digital assets, Robbie Mitchnick, suggests that Bitcoin should not be considered a ‚risk-on‘ asset despite its recent correlation with US equities. He compares Bitcoin to gold, noting its long-term correlation is close to zero. Mitchnick describes Bitcoin as a scarce, global, decentralized, non-sovereign asset with no country-specific or counterparty risk. While Bitcoin is often seen as digital gold, the narrative for Ether is less clear. Bitcoin has risen 49% this year, partly due to ETF approvals.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
WineMakerBg on
„When we think about Bitcoin, we think about primarily as an emerging global monetary alternative,” Mitchnick said. “Scarce, global, decentralized, non-sovereign asset. And it’s an asset that has no country-specific risk, that has no counterparty risk.”
No comment!
sadiq_238 on
Most of the people wouldn’t agree, the price alone is incredibly volatile
MichaelAischmann on
It is a risk-off asset if you take custody. Ofc you remain with the 3rd party risk if you buy their ETF.
CorneliusFudgem on
Bullish
still_salty_22 on
Totally dude
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tldr; BlackRock’s head of digital assets, Robbie Mitchnick, suggests that Bitcoin should not be considered a ‚risk-on‘ asset despite its recent correlation with US equities. He compares Bitcoin to gold, noting its long-term correlation is close to zero. Mitchnick describes Bitcoin as a scarce, global, decentralized, non-sovereign asset with no country-specific or counterparty risk. While Bitcoin is often seen as digital gold, the narrative for Ether is less clear. Bitcoin has risen 49% this year, partly due to ETF approvals.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
„When we think about Bitcoin, we think about primarily as an emerging global monetary alternative,” Mitchnick said. “Scarce, global, decentralized, non-sovereign asset. And it’s an asset that has no country-specific risk, that has no counterparty risk.”
No comment!
Most of the people wouldn’t agree, the price alone is incredibly volatile
It is a risk-off asset if you take custody. Ofc you remain with the 3rd party risk if you buy their ETF.
Bullish
Totally dude