BlackRock executives: Clients invest in Bitcoin mainly for "digital gold" considerations, not for global payment scenarios.

Odaily News According to Cointelegraph, Robbie Mitchnick, head of BlackRock's digital asset department, stated that most clients of the world's largest asset management company do not consider the widespread use of Bitcoin in daily payments when deciding whether to invest. In a podcast interview released on Friday, Mitchnick said, “I think for us and most of our clients today, they are not really investing with the case of a global payment network in mind.” He described the potential for Bitcoin to be widely used for daily payments in the future as “possibly exceeding the existing out-of-the-money-option-value upside.” Mitchnick emphasized that this does not mean Bitcoin will ultimately fail to achieve widespread payment use, but he called this scenario “more speculative” and stressed that investors are currently more focused on Bitcoin as “digital gold” or a store of value. He believes that for a shift in payment scenarios to occur, “a lot of things need to happen,” including the expansion of Bitcoin's capacity and the development of technologies like Lightning.