According to PANews, Robert Mitchnik, Head of Digital Assets at BlackRock, shared insights at the Token2049 conference in Dubai, suggesting that Bitcoin might evolve into a low beta asset through reflexivity. Despite the lack of fundamental support for this logic, its widespread market acceptance could lead to self-fulfillment. Recent tensions in U.S.-China trade have seen U.S. stocks decline while Bitcoin remains stable, reinforcing this perspective.
Over the past ten trading days, Bitcoin spot ETFs have seen net inflows exceeding $3 billion, with BlackRock's IBIT receiving the largest share. Mitchnik noted that Bitcoin is increasingly being held by long-term investors. Jan van Eck, CEO of VanEck, also commented that if the correlation continues to weaken, investors may be more inclined to hold Bitcoin.
