**Bitcoin Mislabelled as "Risk-On" Asset, Says BlackRock Exec**

Bitcoin has been mischaracterized as a "risk-on" asset, according to Robbie Mitchnick, BlackRock’s head of digital assets. In a recent Bloomberg interview, Mitchnick argued that Bitcoin's long-term drivers differ significantly from those of equities and other risk assets. BlackRock's new Bitcoin white paper labels BTC as a "unique diversifier," highlighting its potential as a hedge against monetary and geopolitical risks.

Mitchnick emphasized Bitcoin's role as a global, decentralized, non-sovereign asset, arguing it should be seen as "risk-off." He noted Bitcoin's outperformance during major geopolitical events and downplayed recent amendments to BlackRock's Bitcoin ETF, calling them routine optimizations.

Meanwhile, crypto analyst PlanB predicted Bitcoin could hit $1 million by 2025, sparking skepticism among the crypto community.