BlackRock: The Essence of Bitcoin Investment is 'Digital Gold'—What is the 'True Value' Institutional Investors Care About?

Robbie Mitchnick, the head of digital assets at BlackRock, the world's largest asset management firm, stated that the primary reason institutional investors invest in Bitcoin (BTC) is its value as 'digital gold'. He noted that expectations for its widespread use as a payment method remain 'speculative'.

In an interview on the 'Coin Stories' podcast released on the 21st, Mr. Mitchnick pointed out that the Bitcoin market operates in a distinctly two-tiered structure.

The top layer consists of a smaller market size dominated by individual investors who engage in high-frequency trading with extensive use of leverage...