BlackRock, Which Manages $9 Trillion, Has a New Prediction About Bitcoin!

As Bitcoin continues to struggle with declines in recent days, the world’s largest asset manager, BlackRock, has called Bitcoin a global monetary alternative.

Jay Jacobs, BlacRock’s Head of U.S. Thematic and Active ETFs, has predicted that Bitcoin adoption will continue to grow and reach a market cap of $5.4 trillion in the coming years.

Speaking at the Digital Assets Conference in Brazil, Jacobs said investors have recently increased their demand for portfolio diversification.

At this point, Jacobs said that investors are diversifying their portfolios, especially in the face of high interest rates and changing market conditions, and they are turning to Bitcoin as an alternative.

Why Is Bitcoin Preferred?

The BlackRock executive noted that many investors, especially those with investments in traditional assets, are looking for alternatives to diversify their portfolios.

“Traditional investors want something other than stocks and bonds.

At this point, Bitcoin, which is in increasing correlation with traditional assets, has emerged as a popular choice.

This trend will continue and Bitcoin will lead the way as an alternative store of value.”

Acknowledging Bitcoin’s volatile nature, Jacobs said investors considering adding BTC and other cryptocurrencies to their portfolios should consider cryptocurrencies as a long-term investment.

“Granted, Bitcoin’s price volatility can be troubling in the short term, but for investors willing to withstand the volatility, Bitcoin offers a valuable opportunity for portfolio diversification and potential growth,” Jacobs said.

Jacobs finally stated that BlackRock is working to educate investors about Bitcoin, emphasizing that Bitcoin is seen as a monetary alternative, unlike Ethereum (ETH).

*This is not investment advice.