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Blackrock CEO will expect that bitcoin will increase according to the increasing institutional adoption.
Ruby Michnik, head of digital assets, told Black Rock, Bitcoin 15 % remains higher than early November, although the last prices are low. This point was raised during an interview with Yahoo Funding on Wednesday.
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He believes that the current value of the encrypted currency does not accurately reflect the number of important institutions that you currently buy.
He said in an interview with Yahoo Finance, who was not yet unprecedented. Michnik expects that the leading encryption value will suffer from significant growth as soon as the prices are according to this institutional interest.
Only in: 🇺🇸 The head of the digital assets in Blackrock says #BitcoinInstitutional adoption is still not reflected in the price.
The new marketing team here 🙌 pic.twitter.com/ezhp1ufyx5
Bitcoin (PitcoinMagazine) Magazine March 19, 2025
Bitcoin’s TROMP reserves did not spray expected high prices
US President Donald Trump recently released Executive order Which established the American Bitcoin Strategy Reserve. Many market monitors expect this to lead to an instant increase in encryption prices.
On the other hand, the value of the cryptocurrency has decreased since the announcement. Michnik explained this contradiction by emphasizing that individuals expected early results from these developments in the market.
He stated that the early expectations regarding the speed that these favorable factors will affect the prices were present. Blackrock official suggested that the market requires additional time to completely respond to these developments.
Blackrock continues to press for investment in Bitcoin
Even with bitcoin fluctuation, Blackrock Make a great effort to encourage additional financial institutions and wealth managers to invest in their products. Michnik emphasizes that these endeavors result in results.
The major financial institutions, such as Barclays, JPMORGAN and Avenir Group, have large amounts of ISHares BTC TRUST (IBIT), which monitors the price of Bitcoin, according to the last files.
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The stagnation in Bitcoin can help in the long term
During the uncertainty in the last market, Michnik attributed the instability in Bitcoin to perception instead of reality when asked about the reason for its lack of stability gold.
Bitcoin’s last association with risky assets has been described as “self -binding”, and it is a result of naming its continuous market monitors as the origin of risks. His analysis indicates that Bitcoin’s basic properties should cause them to oppose the market risks, which resemble gold.
Meanwhile, Michnik revealed that bitcoin may already benefit from the recession. He assigned a number of economic shrinks appropriate to Bitcoin’s characteristics, including increasing government spending, reducing interest rates, motivation funds, and concerns related to social stability.
Distinctive image from Gemini Imagen, the tradingvief chart
