Institutional investors prioritize Bitcoin’s store value narrative over payment utility.
Stablecoins rapidly expand global payments while Bitcoin faces ongoing scaling challenges.
Industry leaders revise Bitcoin forecasts as stablecoins capture key financial use cases.
BlackRock’s latest remarks have reshaped discussions around Bitcoin’s role in global finance. Robbie Mitchnick, who leads the firm’s digital assets division, revealed that major clients rarely view Bitcoin as a daily payment tool. According to him during a recent podcast on YouTube, investors remain focused on its store of value qualities.
Mitchnick explained that the payment narrative still sits far from most institutional strategies. He added that the possibility of Bitcoin becoming a global payment network exists, yet he described that outcome as speculative. He also noted that meaningful technical progress must occur across Bitcoin’s scaling layers before such adoption becomes realistic.
Stablecoins Gain Speed As Bitcoin Faces Scaling Questions
Industry research continues to highlight the challenges slowing Bitcoin’s payment growth. Mitchnick referenced concerns raised by Galaxy regarding the sustainability of popular Bitcoin layer two rollup systems. These networks attracted attention for cheaper and faster payments, yet their long term stability remains uncertain.
Stablecoins meanwhile continue to surge in global payment activity. Mitchnick pointed out that they already deliver efficient cross border transfers and are expanding beyond the trading and DeFi sectors. He said stablecoins can grow into retail remittances, multinational corporate transfers and settlement processes as adoption increases.
He added that Bitcoin could still compete in the remittance sector because of its global reach. However he stressed that investors remain focused on Bitcoin’s digital gold narrative rather than its payment potential today.
Industry Leaders Reassess Bitcoin’s Long Term Outlook
Cathie Wood commented on the shift and explained that rapid stablecoin expansion influenced her revised long term Bitcoin forecast. She previously projected a much higher level for Bitcoin by 2030, yet stablecoins now fill several roles once expected to support stronger demand for the asset.
Reeve Collins added further perspective by stating that all global currencies could transition into stablecoin formats by 2030. He said financial systems appear to be moving toward fully onchain infrastructure that supports this evolution.