BlackRock: Институциональные инвесторы видят в биткоине цифровое золото, а не средство платежа Translation: BlackRock: Institutional Investors See Bitcoin as Digital Gold, Not a Payment Method

The majority of clients at the world’s largest asset management firms do not take into account Bitcoin’s payment potential when deciding to purchase the asset, according to Robert Michnik, head of BlackRock’s cryptocurrency division.

He noted that investors view the original cryptocurrency as a form of digital gold and a store of value, with its payment capabilities being perceived more as an additional feature “outside of money.”

However, this perspective among market participants doesn’t imply that Bitcoin won’t achieve widespread use as a payment method, Michnik clarified. He did describe this scenario as “a bit speculative.”

“To bring the idea of a transactional system to life, a lot needs to be done in terms of scaling the main network, Lightning Network, and various other aspects,” the executive stated.

At the same time, Michnik pointed out the “extraordinary success” of stablecoins in the area of monetary transactions:

“They indeed hold a significant position in the market as a payment tool, serving as an effective way to transfer funds.”

The leader of BlackRock’s crypto division believes that stablecoins have the potential to expand their use cases beyond the crypto ecosystem, encompassing retail, corporate, and cross-border transfers, as well as capital market settlements.

It’s worth recalling that in September, Michnik highlighted that digital gold is mistakenly classified as a risky asset, despite its frequent correlation with the stock market.