BlackRock: Institutions Focus on Bitcoin & Ethereum, AI Seen as Key Driver for Crypto Market

Robbie Mitchnick, head of digital assets at BlackRock, recently stated that institutional investors are focusing their crypto asset allocations on Bitcoin and Ethereum, with limited interest in most other tokens, which they believe lack long-term value support.

He also emphasized that artificial intelligence will be a more important long-term driver than crypto assets. As "computer-native currencies", cryptocurrencies have a natural synergy with AI's "computer-native data and intelligence", and their combination may promote the development of digital economic infrastructure.