Equities, unemployment, job numbers, or manufacturing really have no connection to Bitcoin, argues BlackRock’s head of digital assets.
Bitcoin has been mislabelled as a “risk-on” asset, according to BlackRock’s head of digital assets, Robbie Mitchnick.
“What’s happened a little bit in the crypto industry is a bit of an own goal,” said Mitchnick in an interview with Bloomberg on Sept. 24.
“Some of the crypto research type publications and daily commentaries have taken the fact that Bitcoin, which is obviously a risky asset and extrapolated it to say therefore it is a risk-on asset and should trade like equities,” he said.
