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BlackRock made shocking statements about Bitcoin! "If this happens, it becomes risky not to actually own BTC."
The world's largest asset manager, BlackRock, stated that Bitcoin's (BTC) role in corporate investment portfolios is becoming increasingly critical.
The head of the company's digital assets unit, Robbie Mitchnick, stated that if Bitcoin breaks its correlation with technology stocks, "not owning BTC will become riskier."
Mitchnick stated, "The correlation of Bitcoin with technology stocks will be a critical determinant for institutional investors. If Bitcoin behaves like a technology stock, it won't be very attractive for these institutions. However, if it shows a low or negative correlation, meaning it can remain stable during sudden risky downturns, then it could become a very important asset for many institutional portfolios."
Bitcoin supporters argue that BTC has started to decouple from stocks and is moving with lower volatility, suggesting this points to Bitcoin's "safe haven" identity. This contributes to its positioning as an asset similar to gold.
Bloomberg ETF analyst Eric Balchunas, who moderated the panel featuring BlackRock representative Mitchnick, commented, "Large institutions are in search of digital gold. They want an invulnerable currency as a hedge against inflation and market fluctuations."
BlackRock CEO Larry Fink has long described Bitcoin as "digital gold," and this statement is central to the company's strategy of attracting investors to its Bitcoin ETF, which launched in January 2024 and has so far raised approximately $57 billion.