Robert Mitchnick, head of BlackRock's digital asset unit, aims to challenge the perception of Bitcoin as a high-risk investment. In a recent CNBC interview, he argued that the cryptocurrency industry's portrayal of Bitcoin contributes to its reputation as a risk-on asset, even though Bitcoin is characterized by its global, scarce, non-sovereign, and decentralized nature. Mitchnick emphasized that the view of Bitcoin as risky is a self-inflicted wound stemming from industry commentary. He noted that the approval of spot Bitcoin exchange-traded funds (ETFs) has increased institutional access to Bitcoin, helping it reach an all-time high exceeding $108,000 last year. However, recent price volatility, exacerbated by economic factors and U.S. tariff policies, has led to a decline in Bitcoin's value. Mitchnick dismissed the idea that economic downturns would fundamentally harm Bitcoin's price, asserting that market perceptions do not align with the asset's intrinsic characteristics.

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