US recession would be a big catalyst for Bitcoin: BlackRock

BlackRock’s head of digital assets, Robbie Mitchnick, says that Bitcoin will most likely thrive in a recessionary macro environment, contrary to what some analysts may think. “I don’t know if we’ll have a recession or not, but a recession would be a big catalyst for Bitcoin,” Mitchnick said in a March 19 interview with Yahoo Finance.Mitchnick said Bitcoin (BTC) is catalyzed by increased fiscal spending, deficit accumulation, lower interest rates and monetary stimulus — all of which tend to happen in recessions. “And it’s catalyzed to some extent over fears of general social disorder,” Mitchnick pointed out source: https://cointelegraph.com/news/bitcoin-benefit-us-recession-blackrock-crypto-head?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound