BlackRock Executive Reveals Bitcoin's Future Expectations

In recent days, discussions about the market dynamics of Bitcoin (BTC) have attracted the attention of investors. Robbie Mitchnick, the digital asset manager at BlackRock, stated that the likelihood of Bitcoin becoming a payment network is currently quite low. In the evolving cryptocurrency world, the main focus of investors is on Bitcoin strengthening its position as digital gold and a store of value.

Mitchnick emphasized that for Bitcoin to compete with payment systems, it needs significant scaling steps and notable progress on the Lightning Network. Current market expectations are leaning towards Bitcoin being positioned as a much longer-term store of value. The possibility of it becoming a payment network is currently considered only a "low probability option."

The rise of stablecoins is another significant point that stands out in the cryptocurrency market. Robbie Mitchnick highlighted that there has been much more tangible growth in the stablecoin sector. The use of stablecoins has expanded beyond crypto trading transactions to include not only retail remittances and corporate cross-border transactions but also capital market settlements.

This situation indicates that the real momentum in the cryptocurrency payment race has taken place on the stablecoin side. It is believed that the pace of Bitcoin's technical development limits its claim to being a payment network. The noticeable acceleration of the stablecoin trend over the past two years clearly demonstrates where investors see a stronger future.

As a result, the emergence of stablecoin solutions and the shift of institutional actors into this area in competition with Bitcoin highlight critical points for investors to monitor. As significant developments unfold for the future of Bitcoin, it is crucial for investors to closely follow these dynamics.