On September 25th, Robbie Mitchnick, head of digital assets at BlackRock, said in an interview today that "Bitcoin is incorrectly labeled as a'risk asset '. Several crypto research type publications and daily reviews have accepted the fact that Bitcoin is clearly a risk asset and should be traded like a stock. Fundamentally, the long-term drivers of Bitcoin are very different from those driving stocks and other so-called risk assets, and in some cases, they may actually even be the opposite." In BlackRock's recently released Bitcoin white paper, Bitcoin was labelled a "unique diversified investment vehicle", highlighting its potential to hedge against currency and geopolitical risk. According to Robbie Michnik, "Stocks, unemployment, employment numbers, or manufacturing really have nothing to do with Bitcoin. When we think of Bitcoin, we see it primarily as an emerging global currency alternative, it is a scarce, global, decentralized non-sovereign asset, and is an asset with no country-specific risk, no traditional counterparty risk. Investors get confused when people see it as risk appetite, because based on the characteristics I just described, you would think of it as risk aversion.