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A BlackRock executive anticipates that the price of Bitcoin will increase in accordance with its growing institutional adoption.
Robbie Mitchnick, BlackRock chief of digital assets, stated that Bitcoin remains 15% above its early November levels, despite recent price declines. He raised this point during an interview with Yahoo Finance on Wednesday.
He believes that the cryptocurrency’s current value does not accurately reflect the number of significant institutions that are currently purchasing it.
The market has not yet caught up to reality, he stated in an interview with Yahoo Finance. Mitchnick anticipates that the flagship crypto’s value will experience substantial growth once prices are in accordance with this institutional interest.
JUST IN: 🇺🇸 BlackRock’s Head of Digital Assets says #Bitcoin’s Institutional adoption still isn’t reflected in the price.
The new marketing team is here 🙌 pic.twitter.com/EZHP1uFYX5
— Bitcoin Magazine (@BitcoinMagazine) March 19, 2025
Trump’s Bitcoin Reserve Order Hasn’t Sparked Expected Price Surge
United States President Donald Trump recently issued an executive order that established a US Strategic Bitcoin Reserve. Numerous market observers anticipated that this would result in an instantaneous surge in crypto prices.
In contrast, the cryptocurrency’s value has declined since the announcement. Mitchnick elucidated this discrepancy by asserting that individuals anticipated early substantial outcomes from these market developments.
Premature expectations regarding the speed at which these favorable factors would influence prices were present, he stated. The BlackRock executive proposed that the market requires additional time to completely respond to these developments.
BlackRock Continues Push For Institutional Bitcoin Investment
Even as Bitcoin prices fluctuate, BlackRock has been exerting significant effort to encourage additional financial institutions and wealth managers to invest in its product. Mitchnick asserts that these endeavors are yielding results.
Major financial institutions, such as Barclays, JPMorgan, and Avenir Group, now possess substantial quantities of BlackRock’s iShares BTC Trust (IBIT), which monitors Bitcoin’s price, according to recent filings.
Recession Could Help Bitcoin In The Long Run
During the recent market uncertainty, Mitchnick attributed the lack of stability in Bitcoin to perception rather than actuality when asked why it has not been as stable as gold.
He characterized Bitcoin’s recent association with risky assets as “self-inflicted,” a consequence of market observers’ persistent designation of it as a risk-on asset. His analysis indicates that Bitcoin’s fundamental characteristics should cause it to move in opposition to market risks, akin to gold.
Meanwhile, Mitchnick disclosed that Bitcoin may actually benefit from a recession. He enumerated a number of economic downturns that are well-suited to Bitcoin’s characteristics, including increased government expenditure, reduced interest rates, stimulus money, and concerns regarding social stability.
Featured image from Gemini Imagen, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
