BlackRock’s Bitcoin clients aren’t ‘underwriting’ the case for global payments

Bitcoin being widely used for daily payments in the future is just “out-of-the-money-option value upside,” according to BlackRock’s head of digital assets Robbie Mitchnick.

BlackRock’s head of digital assets, Robbie Mitchnick, said that most of the world’s largest asset managers’ clients aren’t considering Bitcoin’s use for daily payments when deciding whether to invest in the asset.

“I think for us, and most of our clients today, they’re not really underwriting to that global payment network case,” Mitchnick said during a podcast interview published to YouTube on Friday.

“That’s sort of maybe out-of-the-money-option-value upside,” Mitchnick said.

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