PANews reported on November 23 that, according to Cointelegraph, Robbie Mitchnick, head of digital assets at BlackRock, said in an interview that most clients of large asset management companies around the world do not consider Bitcoin's application in daily payments when deciding whether to invest. Investors are more focused on Bitcoin's function as "digital gold" or a store of value. Robbie Mitchnick stated that Bitcoin still has much work to do in terms of scaling, the Lightning Network, and other areas before it can become a mainstream payment tool. Meanwhile, stablecoins have achieved "huge success" in the payments sector. As an efficient means of value transfer, they are highly aligned with market demand. Stablecoins have the potential to significantly expand their current uses beyond the cryptocurrency trading ecosystem and DeFi, and can be used practically for retail remittances, corporate transactions, multinational corporations, cross-border transactions, and capital market settlement activities.PANews reported on November 23 that, according to Cointelegraph, Robbie Mitchnick, head of digital assets at BlackRock, said in an interview that most clients of large asset management companies around the world do not consider Bitcoin's application in daily payments when deciding whether to invest. Investors are more focused on Bitcoin's function as "digital gold" or a store of value. Robbie Mitchnick stated that Bitcoin still has much work to do in terms of scaling, the Lightning Network, and other areas before it can become a mainstream payment tool. Meanwhile, stablecoins have achieved "huge success" in the payments sector. As an efficient means of value transfer, they are highly aligned with market demand. Stablecoins have the potential to significantly expand their current uses beyond the cryptocurrency trading ecosystem and DeFi, and can be used practically for retail remittances, corporate transactions, multinational corporations, cross-border transactions, and capital market settlement activities.
BlackRock executive: Most clients invest in Bitcoin primarily for its function as a store of value, often referred to as "digital gold," rather than its payment function.
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PANews reported on November 23 that, according to Cointelegraph, Robbie Mitchnick, head of digital assets at BlackRock, said in an interview that most clients of large asset management companies around the world do not consider Bitcoin's application in daily payments when deciding whether to invest. Investors are more focused on Bitcoin's function as "digital gold" or a store of value.
Robbie Mitchnick stated that Bitcoin still has much work to do in terms of scaling, the Lightning Network, and other areas before it can become a mainstream payment tool. Meanwhile, stablecoins have achieved "huge success" in the payments sector. As an efficient means of value transfer, they are highly aligned with market demand. Stablecoins have the potential to significantly expand their current uses beyond the cryptocurrency trading ecosystem and DeFi, and can be used practically for retail remittances, corporate transactions, multinational corporations, cross-border transactions, and capital market settlement activities.
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