📌 What BlackRock Really Thinks About Bitcoin and Stablecoins

Robbie Mitchnik, Head of Digital Assets at BlackRock and curator of the Bitcoin ETF IBIT, shared how the company views BTC.

• Bitcoin is a store of value.
Not a payment network. For it to become a widely used payment method, advanced L2s like Lightning are needed.

• IBIT investors have changed.
At the beginning of 2024, ~80% were retail. Now it's about 50/50—retail and institutional. Hedge funds mainly use arbitrage: spot buying + shorting futures.

• The global money of the future: gold, Bitcoin, and partially silver.
The market confused itself by labeling BTC a "risky asset"—this causes people to trade it according to a set pattern.

• Support for BTC: low rates, weak dollar, increased liquidity.
Geopolitics shouldn't have an impact: Bitcoin is outside the risks of individual countries.

• Stablecoins will become a global way to transfer value, far beyond crypto exchanges.

• After the events of October 10–11, don't expect an instant reversal—the market needs time.

Advice from BlackRock: don't try to catch the bottom, invest with a 3+ year horizon.