BlackRock's head of crypto doesn’t see Bitcoin as a ‘risk on’ asset.
Equities, unemployment, job numbers, or manufacturing really have no connection to Bitcoin, argues BlackRock’s head of digital assets.
**Robbie Mitchnick suggests Bitcoin is closer to a risk-off asset. Source: Bloomberg**
Narrative is changing…in favor of #Bitcoin. Bullish that BlackRock is selling it like that.
...me too... 8)
Earlier in the interview he argues that, long term, bitcoin's price is independent from that of stocks, but that the short term correlation and factors influencing price can vary. So, the statement that equities or other macro factors have no connection to bitcoin is a bit odd, in that it is unclear over what period he is referring (ie, clearly there have been many periods of correlation).
Stay humble and #DCA Sats.
