TechFlow News, February 15: According to CoinDesk, Robert Mitchnick, BlackRock’s Head of Digital Assets, stated at the Bitcoin Investor Week conference that rampant leveraged speculation on crypto derivatives platforms is exacerbating market volatility and could undermine Bitcoin’s long-term positioning as a stable institutional hedge. Mitchnick noted that Bitcoin’s fundamentals—as a “global, scarce, decentralized monetary asset”—remain solid; however, its short-term trading behavior is increasingly resembling a “leveraged Nasdaq,” a perception that will significantly raise the bar for conservative institutional investors allocating to this asset. Mitchnick also refuted the view that spot ETFs are amplifying market volatility.
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