What to know:
- BlackRock’s head of digital assets, Robbie Mitchnick, said institutional investors are increasingly concentrating on bitcoin and ether, viewing most other tokens as short-lived and largely “nonsense.”
- Mitchnick argued that artificial intelligence is a more powerful long-term force than the proliferation of new cryptocurrencies, with crypto serving as “computer-native money” that naturally complements AI’s “computer-native data and intelligence.”
- He framed crypto less as a speculative asset and more as infrastructure for the AI economy, noting that bitcoin miners are pivoting toward AI-related computing and that bitcoin may act as a diversifier amid AI-driven disruption.
Robbie Mitchnick, who leads digital asset efforts at BlackRock, suggests that big investors are changing how they see cryptocurrency. He believes artificial intelligence is now a more important factor driving interest than the creation of new cryptocurrencies.
According to Mitchnick, investors are shifting away from widely held assets and focusing on smaller ones. He noted significant trading activity among leading cryptocurrencies, but only Bitcoin and, eventually, Ethereum have consistently remained popular. He believes many newer tokens don’t maintain their value over time.
From my perspective as an analyst, we’re seeing a clear shift in how investors approach the digital asset space. There’s a huge number of tokens available, but frankly, much of that activity feels speculative. What I’m observing is clients are now concentrating their investments in just a few key assets. Bitcoin and Ethereum are overwhelmingly dominant, and interest in expanding beyond those two is quite limited. This trend is really shaping where the money is going.
Looking at the bigger picture, I think AI is going to be a much more important driver of what happens with crypto going forward. It’s not just about digital assets; AI is a huge trend on its own, but the way these two worlds connect could be really significant for investors like me.
He explained that AI programs probably won’t use traditional banking systems like Fedwire and SWIFT. He described cryptocurrency as digital money built for computers, and pointed out that AI is also based on computer data and intelligence. This creates a natural fit between the two technologies.
This perspective views cryptocurrency not just as something to gamble on, but as a foundational technology. Increasingly, bitcoin miners are dedicating resources to artificial intelligence tasks, attracted by more consistent income and the growing need for powerful computers. Publicly traded mining companies like Hut 8, Core Scientific, and Iren are either converting their data centers or making agreements to host AI and high-performance computing operations. Other companies are planning similar moves, even while continuing to focus on bitcoin mining.
Mitchnick also believes the rise of AI and the changes it brings help explain why bitcoin is attractive. He proposes that as new technologies disrupt industries and cause instability, bitcoin could offer a sense of security as an investment. It can help balance a portfolio when things are changing quickly.
He noted important connections and a clear chance to benefit from the growing AI industry.
Read More
- Brent Oil Forecast
- Gold Rate Forecast
- USD CNY PREDICTION
- Silver Rate Forecast
- NEXO PREDICTION. NEXO cryptocurrency
- Citi’s Crypto & AI Uprising: Will Your Portfolio Survive? 🚀
- Tether’s U.S. Debut: Trump’s GENIUS Act & a Stablecoin Saga 🤖💸
- Bitcoin Plummets to June Lows as U.S. Government Shutdown Sets Record
- Trump Claims Ignorance as Abu Dhabi Royal Slips $500M into Trump’s Crypto Wallet
- PEPE PREDICTION. PEPE cryptocurrency
2026-03-24 23:31