BlackRock's Mitchnick says macro case for bitcoin is strengthening after record trading in positive week
BlackRock's head of digital assets shared his outlook for bitcoin after the company's spot BTC ETF, IBIT, hit record volume for a positive week.
Source: CoinDesk
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DW NOTE
BlackRock ran a spot bitcoin ETF to $1 billion in daily volume and now its digital asset chief is doing the rounds to explain why the macro case is strengthening. The macro case strengthened the day central banks proved they would print to save the bond market. IBIT's record volume is the tell, not the thesis — institutions are pricing the gap between 3.65% policy rates and $1.8 trillion deficits, and bitcoin is the only asset the Fed cannot dilute by resolution.