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Yes, We're Talking About Voting on the Blockchain

With Iowa election results still unconfirmed, Markets Daily is back and digging into the question: Would a blockchain have helped?

Updated Dec 6, 2022, 6:28 p.m. Published Feb 4, 2020, 6:14 p.m.
markets daily adam john

With Iowa election results still unconfirmed, Markets Daily is back and digging into the question: Would a blockchain have helped?

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BlackRock's digital assets head: Leverage-driven volatility threatens bitcoin’s narrative

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Rampant speculation on crypto derivatives platforms is fueling volatility and risking bitcoin’s image as a stable hedge, says BlackRock’s digital assets chief.

What to know:

  • BlackRock digital-assets chief Robert Mitchnick warned that heavy use of leverage in bitcoin derivatives is undermining the cryptocurrency’s appeal as a stable institutional portfolio hedge.
  • Mitchnick said bitcoin’s fundamentals as a scarce, decentralized monetary asset remain strong, but its trading increasingly resembles a "levered NASDAQ," raising the bar for conservative investors to adopt it.
  • He argued that exchange-traded funds like BlackRock’s iShares Bitcoin ETF are not the main source of volatility, pointing instead to perpetual futures platforms.