BlackRock exec: 'Ethereum is a complement to Bitcoin'

IconCryptoNewsTerminal Staff23 Jul, 2024

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BlackRock exec: 'Ethereum is a complement to Bitcoin'

BlackRock's head of digital assets, Robert Mitchnick, says Ethereum and Bitcoin aren't rivals. Instead, they're "complementary" as Ethereum is a technological innovation in the blockchain space. Bitcoin, on the other hand, is an alternative global currency. Mitchnick's view differs from the common perception of Ethereum as a competitive alternative to Bitcoin. He also believes that the approval of an ETH spot ETF is positive for investors and the market as it provides a regulated venue to access the asset class. ---