A Remarkable Bitcoin (BTC) Statement from BlackRock! "Revealed the Secret Catalyst!"

Bitcoin (BTC) has recently been stuck in consolidation around $80,000. After the White House Crypto Summit failed to trigger a rise for Bitcoin and altcoins, investors are waiting for the next crypto catalyst.

At this point, BlackRock Global Digital Assets Head Robbie Mitchnick offered a different perspective on the expected catalyst.

Robbie Mitchnick, speaking to Yahoo Finance, stated that contrary to expectations, a possible recession would actually be a major catalyst for Bitcoin.

A BlackRock executive argued that the fundamentals of Bitcoin are unrelated or even inversely proportional to the basic risk factors, claiming that stagnation and economic downturns could direct investors towards Bitcoin as a hedge against inflation and currency devaluation.

According to Mitchnick, as traditional markets face uncertainty, investors are ultimately seeking alternative stores of value and are increasingly turning to risky assets like Bitcoin.

"If you look at Bitcoin fundamentally in the long term, it appears to be an asset that should be indifferent or even inversely related to certain existing risk factors. However, in the short term, there can be increases in correlation.

It is stated that tariffs, which are one of the most talked about topics recently, negatively affect the price of Bitcoin, but these claims have no basis. Or it is claimed that economic fears are hurting Bitcoin.

However, in my opinion, a potential recession could be a significant rise catalyst for Bitcoin.

Mitchnick stated that he continues to be optimistic about the price of Bitcoin, mentioning that institutional adoption of Bitcoin has not yet been priced in.