Second, bitcoin’s high volatility can be perceived as a “risky” asset, which contributes to the discussion that whether it is a “risk-on” or “risk-off” asset. The token could be considered a flight-to-safety option because it is scarce, non-sovereign, and decentralized. Lastly, BlackRock pointed out that the long-term adoption of bitcoin may come from global instability.
Source: https://www.coindesk.com/markets/2024/09/27/blackrock-highlights-bitcoins-unique-properties-believes-btc-is-risk-off-in-the-long-term/?utm_medium=referral&utm_source=rss&utm_campaign=headlines