BlackRock (BLK) Says Bitcoin (BTC) Adoption Is Still in Early Stages

BlackRock's Head of Digital Assets, Robert Mitchnick, believes Bitcoin adoption is still in its early stages.

BlackRock’s Head of Digital Assets, Robert Mitchnick, recently stated that Bitcoin adoption is still in "the early, early days," during an interview on the sidelines of the New York Stock Exchange.

Mitchnick highlighted BlackRock’s performance in the past year, describing it as a “pretty incredible first year” for IBIT, the BlackRock Bitcoin spot ETF. He noted that the ETF set many records and experienced significant inflows and asset accumulation.

Moreover, Mitchnick emphasized BlackRock’s commitment to educating clients about Bitcoin ETFs, considering the product's novelty and the need for consistent efforts to ensure understanding.

Bitcoin ETF Adoption Gained Momentum in 2024

According to Mitchnick, institutional interest in Bitcoin ETFs began building up in the latter part of 2024. He stated that more institutions emerged in the last quarter, and many wealth advisories engaged in educational activities for their clients.

This institutional enthusiasm culminated in a massive uptake of Bitcoin ETFs in 2025, which played a crucial role in the cryptocurrency’s stellar performance during that year.

Meanwhile, Bitcoin experienced a remarkable rally in Q4 2024, climbing over 80% to surpass the $100,000 mark before consolidating at $97,148. After bouncing off support at $89,164 within the last 48 hours, BTC traded for $97,148 at press time from Tradingview’s data.

As Donald Trump prepares for his second inauguration as U.S. president, Bitcoin could attempt another ascent to breach the $100,000 level once more. This renewed optimism might propel the crypto towards a price discovery phase.

Trump Factor in Bitcoin’s Next Rally Phase

Throughout the 2024 election campaigns, Trump expressed support for cryptocurrencies and promised to establish a strategic Bitcoin reserve for the U.S. upon assuming office.

Many analysts believe that his presidency will have a significant impact on Bitcoin's price, especially given his pro-crypto pronouncements and his pledge to integrate cryptocurrencies into the U.S. financial system.

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