BlackRock’s Bitcoin clients aren’t ‘underwriting’ the case for global payments
NeutralCryptocurrency
- BlackRock's head of digital assets, Robbie Mitchnick, stated that the potential for Bitcoin to be widely used for daily payments is merely an 'out
- This development is significant for BlackRock as it highlights the company's measured approach to Bitcoin amidst fluctuating market conditions, particularly as it navigates substantial outflows from its Bitcoin ETF, IBIT, which recently saw a record $523 million withdrawn in a single day.
- The broader cryptocurrency landscape is marked by contrasting investor sentiments, with BlackRock simultaneously making substantial deposits into Coinbase, indicating a complex strategy of integrating digital assets while managing risks associated with market volatility and investor confidence.
— via World Pulse Now AI Editorial System
