BlackRock Executive: The price of Bitcoin does not reflect its strong institutional demand.

Robbie Mitchnick, the Global Head of Digital Assets at BlackRock, recently stated that institutional investment in Bitcoin has strengthened, but the price of Bitcoin has struggled to reflect this growing demand. He believes that short-term market behavior and macroeconomic uncertainty are the main reasons for this phenomenon.

On March 18, Mitchnick pointed out in an interview with Yahoo Finance that the scarcity, decentralization, and independence from traditional monetary systems of Bitcoin make it a strong hedge against economic recession, and a potential recession in the U.S. economy could serve as a catalyst for the rise of Bitcoin.

He also pointed out that despite the surge in gold prices amid economic uncertainty, Bitcoin has not shown a similar trend, as Bitcoin is often seen as a risk asset rather than a store of value.

In addition, the main reason for the large outflows of funds from Bitcoin ETFs in recent weeks is due to hedge funds closing their arbitrage trades, rather than long-term investors exiting the market. Meanwhile, those core long-term holders are still holding firm.

At the same time, institutional capital continues to flow into the market, and many professional investors see this round of decline as an opportunity to accumulate. At the same time, despite regulatory uncertainty and security concerns in the crypto industry, he remains optimistic about Bitcoin's long-term value.

He even predicts that investors will increasingly view Bitcoin as a tool for hedging against traditional financial risks, and this could become a new momentum driving Bitcoin's next surge amid economic uncertainty in the coming months.

Overall, BlackRock executives believe that the price of Bitcoin has not yet reflected strong institutional demand, and an economic recession may serve as a catalyst for Bitcoin's rise.

Therefore, despite the market being filled with uncertainty due to this adverse factor, institutional investors' confidence in Bitcoin remains strong.

Do you think that in the coming weeks, the price of Bitcoin will really keep up with institutional demand? Will the economic recession really become a catalyst for Bitcoin? Leave your opinion in the comments!

#比特币 # BlackRock #机构需求 # economic recession