HAS IT BECOME MORE DANGEROUS NOT TO OWN BITCOIN THAN TO OWN IT? BLACK ROCK HINTS AT A RADICAL CHANGE.
Bitcoin begins to diverge from the movements of tech stocks, attracting the attention of institutional investors.
BlackRock sees that the digital asset could become a pillar in investment portfolios during the next stage.
BlackRock's view on digital assets is not limited to theoretical bets. Since January 2024, the company launched an exclusive Bitcoin ETF fund under the name iShares Bitcoin Trust! (IBIT), which has attracted over $57 billion so far, becoming the largest in its field worldwide.
Eric Balchunas, a prominent analyst at Bloomberg, comments that this fund "is often used directly by huge financial institutions, which explains its monumental size in a short period of time."
This vision aligns with the recurring statements of the company's president, Larry Fink, who considers Bitcoin as "digital gold," and that it could surpass the dollar in the future, especially amid the growing debt of the United States.
Perhaps the most important conclusion drawn by Mitch McConnell in his speech is that the discussion is no longer centered on how dangerous Bitcoin is, but on the risks of ignoring it.
In a context of exposure of stock markets to crises of inflation, debt, and geopolitical unrest, Bitcoin could become the essential asset.
