Bitcoin in BlackRock's Eyes: A Diversified Safe haven Investment Tool Different from Traditional Assets
After successfully launching a Bitcoin spot ETF, BlackRock recently released a detailed report outlining the unique position of Bitcoin among major asset classes.
The current market value of Bitcoin exceeds $1 trillion, and BlackRock's spot Bitcoin ETF launched earlier this year quickly accumulated $21 billion in managed assets due to strong market interest, making it one of the most successful ETFs in history.
In BlackRock's latest white paper, the institution explains why Bitcoin can become a "unique risk diversification tool" and why many investors find it difficult to compare it to "traditional assets" when analyzing Bitcoin. The report points out that the correlation between Bitcoin and US stocks or US dollar interest rates is often short-lived.
The uniqueness of Bitcoin makes it unsuitable for the definition of traditional financial frameworks. Although Bitcoin has had short-term fluctuations in conjunction with stocks, especially during periods of significant changes in US dollar real interest rates, its long-term correlation with stocks and bonds is low, and its historical returns are much higher than other major asset classes
In addition, BlackRock emphasized a key point when analyzing the performance of Bitcoin and the difficulty of predicting its price:
The correlation between Bitcoin and macro factors that affect most traditional asset classes is extremely low
This Wall Street giant points out that although Bitcoin remains a 'high-risk' asset class, it has outperformed all other major asset classes in seven out of the past decade. But at the same time, in the other three years, Bitcoin's performance was the worst. BlackRock explained in the report that:
The fluctuations in the price of Bitcoin partially reflect the evolving prospects of its widespread adoption as a global currency alternative over time,
Due to its apparent decoupling from global macroeconomic factors, Bitcoin can serve as a safe haven for some in geopolitical tensions. The report also points out that Bitcoin can provide protection in the event that the US federal deficit may lead to a weakening of the US dollar.
However, BlackRock emphasizes that Bitcoin still belongs to high-risk assets, but its source of risk is different from traditional investment assets, so the traditional definition framework of "risk assets" and "safe haven assets" does not apply to Bitcoin. Finally, BlackRock concludes:
"As the global investment community tries to cope with the growing geopolitical tensions, concerns about the US debt and deficit situation, and the growing global political instability, Bitcoin may be seen as an increasingly unique diversified investment tool to deal with some financial, monetary and geopolitical risk factors faced by investors, which may face other problems in the portfolio."
(责任编辑:财经专题)
-
孩子们要填写自己的姓名,家长手机号等信息,目前已获得134280条学生信息。...[详细]
-
而耐克中文官网上这款鞋的介绍则被关掉,再也打不开了。...[详细]
-
K33:SUI 可能很快就會成為 Solana 的主要競爭對手
风光的风光,颓败的颓败 一边对低俗无下限不屑一顾,一边看着刻意摆拍的搞笑视频停不下来,大多数人在这种自我矛盾中贡献着自己的观看量,部分人按耐不住要去平台上刷脸求关注求金钱,还有少数自诩互联网精英...[详细]
-
“70%的用户需求还是只能通过B2C的方式来实现,B端有大量的自有车辆,最主要的是,能提供稳定、标准化的服务。...[详细]
-
如果所投公司在市场中的竞争地位较差,但是拥有独立的高价值资源。...[详细]
-
每周荐读 | 详解 Paradigm 的难处与境况;Vitalik 呼吁不要让以太坊的共识过载
因为活动后有不少人没有归还设备,引发了对“诚信”、“道德”的讨论,当时在微博、媒体上都有报道,话题讨论度和关注度都很高。...[详细]
-
美國前總統川普二度遇刺!嫌犯持 AK-47 步槍企圖暗殺反遭活逮
摩羯座的Daniel在应书岭旁边,性格就显得腼腆许多,更多时候,他是一个很好的倾听者,在他那静如潭水的招牌微笑之下,深藏着对移动电竞发展的思考。...[详细]
-
张志清(第一财经):对于传统媒体来说,原来享有了很大一部分的渠道溢价,然后渠道优势没有了。...[详细]
-
所以在这种情况下,就不应该使用“饥饿营销”这种策略(这也是小米现在饥饿营销行不通的一个原因)。...[详细]
-
扣除非经常性损益后归属于母公司股东净利润2015年、2016年规模分别约为0.87亿元、1.12亿元。...[详细]