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BlackRock sees continued strength in Bitcoin as the asset breaks out of its previous trading range, a move that has driven record trading volumes for the asset manager's spot Bitcoin exchange-traded fund.
The development raises questions about the durability of current investor conviction in digital assets, particularly as macroeconomic concerns persist.
Robbie Mitchnick, BlackRock's head of digital assets, attributes the bullish outlook to growing conviction among investors.
He noted that debt and deficit levels remain a major concern for markets, factors he believes are benefiting assets like Bitcoin.
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