The similarity of BTC to gold makes it attractive in 2025, says the executive from BlackRock
Just like the recent pullback of bitcoin along with stocks due to tariffs, Mitchnick added that something similar happened in August of last year. At that time, he recalled that there was "no fundamental basis" for the "plummeting" that occurred during the unwinding of the Japanese yen carry trade.
He believes that, in the short term, bitcoin moves in a way that "seems against logic." But he notes that "then, in the medium and long term, it behaves more as one would expect, according to its history."
So, when you see more episodes where this happens, "people start getting trained to ignore that short-term noise," said the BlackRock specialist.
To clarify, he indicated that this noise "is more driven by leveraged speculators and hot money traders and not by really thoughtful long-term investors who buy and hold."
In line with the message from the BlackRock expert, Trump ordered a week ago the creation of a national bitcoin reserve in the United States, with what the government had from confiscations of illicit activities. In the announcement of this initiative, the president labeled this asset as "digital gold."
Meanwhile, various governments around the world are currently studying whether to add bitcoin to their national reserves. In this context, amid its growing institutional adoption, it is possible that in the future its global perception as digital gold will grow and it will stop being traded as a risk asset.
