Bitcoin To Align With Wall Street? BlackRock Sees Big Shift Ahead
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A Blackstone executive expects the price of Bitcoin to rise based on its growing institutional adoption.
Robbie Mitchnick, head of BlackRock digital assets, said Bitcoin Despite the price drop, it is still 15% higher than the level in early November. He raised this in an interview with Yahoo Finance on Wednesday.
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He believes that the current value of cryptocurrencies does not accurately reflect the number of important institutions currently purchased.
In an interview with Yahoo Finance, he said that the market has not caught up with reality. Mitchnick expects flagship crypto value to experience significant growth once the price is in line with this institutional interest.
Just in: 🇺🇸The person in charge of BlackRock’s digital assets said #bitcoinInstitutional adoption is still not reflected in price.
The new marketing team is here 🙌 pic.twitter.com/ezhp1ufyx5
– Bitcoin Magazine (@bitcoinmagazine) March 19, 2025
Trump’s Bitcoin reserve orders have not triggered expected price increases
US President Donald Trump recently released Executive Order This established the US strategic Bitcoin reserve. Many market observers expect this will lead to an instantaneous increase in crypto prices.
By contrast, the value of cryptocurrencies has declined since the announcement. Mitchnick illuminates this difference by asserting that individuals expect early results of these market developments.
He said that these favorable factors could affect the speed of prices. Blackstone executives have suggested that the market needs extra time to fully respond to these developments.
BlackRock continues to promote institutional Bitcoin investment
Even if Bitcoin price fluctuates, Black Stone We have been working hard to encourage more financial institutions and wealth managers to invest in their products. Mitchnick asserts that these efforts are producing results.
According to recent documents, according to major financial institutions such as Barclays, JPMorgan and Avenir Group, now owns a large number of BlackRock’s Ishares BTC Trust (IBIT), which monitors the price of Bitcoin based on recent documents.
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Recession can help Bitcoin in the long run
Amid recent market uncertainty, Mitchnick Gold.
He sees Bitcoin’s recent association with risky assets as “self-caused,” a result of what market observers continue to call it risky assets. His analysis shows that the basic characteristics of Bitcoin should lead to its opposition to market risks, similar to gold.
Meanwhile, Mitchnick revealed that Bitcoin could actually benefit from the recession. He cited many recessions that are well suited to the Bitcoin characteristics, including increasing government spending, lowering interest rates, stimulus funds, and concerns about social stability.
Featured images by Gemini Imagen, charts by TradingView
