Second, bitcoin’s excessive volatility might be perceived as a “dangerous” asset, which contributes to the dialogue that whether or not it’s a “risk-on” or “risk-off” asset. The token could possibly be thought of a flight-to-safety choice as a result of it’s scarce, non-sovereign, and decentralized. Lastly, BlackRock identified that the long-term adoption of bitcoin could come from international instability.
