According to BlockBeats news, on September 25, Robbie Mitchnick, head of digital assets at BlackRock, said in an interview today that “Bitcoin has been wrongly labeled as a “risk asset.” Some crypto research type publications and daily commentaries have accepted the fact that Bitcoin is clearly a risk asset and should be traded like a stock. Fundamentally, the long-term drivers of Bitcoin are very different from those driving stocks and other so-called risk assets, and in some cases, they may actually even be opposites. “

In BlackRock’s recently released Bitcoin white paper, Bitcoin is labeled as a “unique diversified investment tool”, emphasizing its potential to hedge currency and geopolitical risks. Robby Michnik believes that “stocks, unemployment, employment or manufacturing actually have nothing to do with Bitcoin. When we think of Bitcoin, we mainly think of it as an emerging global currency alternative. It is a scarce, global, decentralized non-sovereign asset, and an asset with no specific country risk and no traditional counterparty risk. When people think of it as risk appetite, investors will be confused because based on the characteristics I just described, you would think it is risk aversion.”

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