Crypto
- Robert Mitchnick believes Bitcoin adoption is still in the early stages.
- Mitchnick says BlackRock’s IBIT had a “pretty incredible first year.”
- Institutions will play a significant role in Bitcoin’s development in 2025.
BlackRock’s Head of Digital Assets, Robert Mitchnick, believes Bitcoin adoption is still in its early stages. Mitchnick stated this in a recent interview, where he highlighted his firm’s performance in the past year, describing it as a “pretty incredible first year” for IBIT, the BlackRock Bitcoin spot ETF.
JUST IN: BlackRock says Bitcoin adoption is still in early stages.
— Watcher.Guru (@WatcherGuru) January 14, 2025
Mitchnick emphasized BlackRock’s commitment to educating clients about Bitcoin ETFs, noting that the product’s novelty requires consistent efforts to ensure understanding.
Institutional Momentum Boosts Bitcoin ETFs
According to Mitchnick, BlackRock’s IBIT set many records and experienced significant inflows and asset accumulation in the first year. He noted that the company will remain consistent with its focus and maintain a similar approach to what it did last year. Mitchnick highlighted BlackRock’s goal to be a valuable resource and education partner to clients, considering Bitcoin ETF’s novelty.
Meanwhile, Michnick acknowledged the significance of institutions in developing Bitcoin ETFs and their adoption in 2025. He noted that more institutions emerged in the last quarter of 2024 alongside wealth advisories, most of which engaged in educational activities to clients ahead of the anticipated bullish 2025 Bitcoin year.
Related: BlackRock’s Bitcoin ETF (IBIT) Breaks Records as Larry Fink Eyed for Treasury Secretary
Bitcoin climbed over 80% in Q4 2024, surpassing the $100,000 mark before consolidating at $97,148. Analysts believe Bitcoin could breach $100,000 again, buoyed by renewed optimism ahead of Donald Trump’s inauguration as the next U.S. president.
Tradingview’s data show Bitcoin traded for $97,148 at writing time after bouncing off support at $89,164 within the last 48 hours. BTC’s rediscovered bullish momentum could push the crypto’s price above the $100,000 milestone just before Donald Trump’s inauguration as the next U.S. president.
Considering the impact of Trump’s election victory towards the end of last year, many analysts expect his resumption in office to trigger significant bullish sentiment and form the catalyst for the next phase of Bitcoin’s rally. These expectations stem from Trump’s pro-crypto pronouncements during the election campaigns and his promise to establish a strategic Bitcoin reserve for the U.S. upon assumption of office.
Related: BlackRock’s IBIT Bitcoin ETF Sees Surging Inflows As GBTC Outflows Ease
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