PANews reported on March 20 that according to Decrypt, on Wednesday, despite the turmoil in the cryptocurrency market, the head of BlackRock's digital assets department tried to reverse people's perception of Bitcoin as a high-risk investment. In an interview with CNBC's "Squawk Box", Robert Mitchnick, head of BlackRock's digital assets, pointed out that the crypto industry has been promoting Bitcoin as a risky asset, but in fact, Bitcoin is a "global, scarce, non-sovereign, decentralized" token.

Mitchnick said: "The market conditions we have seen recently seem to be a self-fulfilling phenomenon and are actually self-harm caused by certain research and comments within the industry, which sometimes tend to portray Bitcoin as a risky asset." He believes that the claim that a severe recession in the US economy could affect the price of Bitcoin is "unfounded." Mitchnick said: "Tariffs are not necessarily bad news for Bitcoin. As for economic concerns, I'm not sure whether we will fall into a recession, but a recession may be an important catalyst for Bitcoin."

Mitchnick also mentioned that despite concerns about the impact of macroeconomic uncertainty on cryptocurrencies, Bitcoin prices have risen by about 15% since early November. "Obviously, 2024 is a pretty extraordinary and historic year," he said. "Fundamentally, we think this is the long-term trend. That's why people view Bitcoin as digital gold."