{"id":4296,"date":"2025-04-26T05:00:26","date_gmt":"2025-04-26T05:00:26","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/how-to-price-bitcoin-blackrock-exec-explains\/"},"modified":"2025-04-26T05:00:26","modified_gmt":"2025-04-26T05:00:26","slug":"how-to-price-bitcoin-blackrock-exec-explains","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/how-to-price-bitcoin-blackrock-exec-explains\/","title":{"rendered":"How To Price Bitcoin? BlackRock Exec Explains"},"content":{"rendered":"

Bitcoin should be valued as \u201can uncorrelated asset that benefits when the world gets messier,\u201d BlackRock\u2019s US Head of Equity ETFs Jay Jacobs told CNBC in an interview on Thursday.<\/p>\n

\u201cCrypto over the long run is decoupled from US tech stocks,\u201d Jacobs said<\/a>, stressing that short-term market stress can mask the difference but that \u201cthe long-term correlation between US stocks and Bitcoin is more like two or three percent.\u201d He argued that what pushes equities higher\u2014\u201chigher growth, higher certainty, lower geopolitical risk\u201d\u2014is the mirror image of the forces that move Bitcoin. \u201cBitcoin thrives when you have more uncertainty and are looking for something that\u2019s going to behave differently, so fundamentally they should behave like an uncorrelated asset.\u201d<\/p>\n

BTC was changing hands just under $94,000 during Jacobs\u2019 appearance, extending a rally that has added roughly 150% since spot-ETF approvals early last year.<\/p>\n

Bitcoin Rises Because Of ‘Mega-Forces\u201d<\/h2>\n

Jacobs tied price behaviour directly to flows. \u201cWe would think over the long term, if this trajectory of greater uncertainty around the world continues, things like gold and Bitcoin should continue to go up.\u201d He noted that investors are repositioning accordingly: \u201cWe\u2019ve seen significant inflows into gold ETFs; we\u2019ve seen significant inflows into Bitcoin, and this is all because people are looking for those assets that will behave differently.\u201d<\/p>\n

The biggest beneficiary has been BlackRock\u2019s own iShares Bitcoin Trust (IBIT), which on 23 April absorbed $643 million of net creations\u2014its largest one-day haul since January\u2014lifting the fund\u2019s assets to roughly $54 billion.<\/p>\n

Jacobs framed the rush into hard assets as part of a longer geopolitical realignment. \u201cIf you look at central banks around the world, a continued movement towards diversification beyond just holding dollars is something that\u2019s been happening for decades\u2026 the switch from just holding dollars to holding gold to looking at other types of assets like Bitcoin is a trend that\u2019s been years in the making.\u201d<\/p>\n

Central-bank gold purchases illustrate the shift: net buying topped 1,044 tonnes in 2024, the third consecutive year above the thousand-tonne mark, double the average of the previous decade.<\/p>\n

He linked those reserve moves to BlackRock\u2019s 2023 \u201cmega-forces\u201d framework, which identified geopolitical fragmentation as a secular driver of returns. \u201cThat mega force is materialising in policies like reshoring in the United States and, I think, directly related to that fragmentation has been the rise of things like Bitcoin, as people see more destabilisation in geopolitics resulting in the need for more alternative assets.\u201d<\/p>\n

BlackRock\u2019s influence is difficult to overstate: the firm ended the first quarter with a record $11.6 trillion under management.<\/p>\n

By pairing that scale with a public thesis that Bitcoin\u2019s fair price rises as uncertainty deepens, the asset-manager is effectively codifying a valuation model in which scarcity and sanction-resistance\u2014not discounted cash flows\u2014set the marginal price.<\/p>\n

As Jacobs put it, the market is \u201clooking for alternatives\u2014parts of the portfolio that are going to behave separately from stocks and bonds.\u201d With IBIT now swallowing more BTC each day than miners can produce post-halving, his remarks may offer the clearest blueprint yet for how the world\u2019s largest asset manager thinks about pricing the world\u2019s largest cryptocurrency.<\/p>\n

At press time, BTC traded at $94,510.<\/p>\n

\"Bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin should be valued as \u201can uncorrelated asset that benefits when the world gets messier,\u201d BlackRock\u2019s US Head of Equity ETFs Jay Jacobs told CNBC in an interview on Thursday. \u201cCrypto over the long run is decoupled from US tech stocks,\u201d Jacobs said, stressing that short-term market stress can mask the difference but that \u201cthe…<\/p>\n","protected":false},"author":1,"featured_media":4297,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[245],"tags":[22,28,29,32,33,34],"class_list":["post-4296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/4296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=4296"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/4296\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/4297"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=4296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=4296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=4296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}