BlackRock’s Mitchnick Sees Bitcoin as ‘Risk-Off’ Asset

(Bloomberg) — Even though Bitcoin has been highly correlated as of late with the price moves of US equities, BlackRock Inc.’s head of digital assets says its a likely misnomer to call the cryptocurrency a “risk-on” asset. Most Read from BloombergEric Adams’ Vanishing Promise to Fix NYC’s ‘Unfair’ Property TaxesWaiting for the Miracle of Church-to-Housing DevelopmentUnlocking the Hidden Power of Zoning, for Good or BadNY’s MTA Warns Against Borrowing More Than $13 BillionExclusive Palo Alto Girl