Global giant BlackRock has made important statements regarding which cryptocurrencies are attracting the attention of institutional investors.
Robert Mitchnick, head of digital assets at BlackRock, said that institutional investors are increasingly focusing on Bitcoin (BTC) and Ethereum (ETH).
Speaking at the Digital Asset Summit in New York, Robert Mitchnick stated that institutional investors have recently been increasingly focusing on BTC and ETH, viewing most other altcoins as short-lived, useless, and merely hype.
“Organizations are now focusing on a few assets instead of a broad portfolio.”
Bitcoin and Ethereum are leading the way in this regard, and interest in other tokens is minimal.
They consider the vast majority of tokens to be short-lived and useless.”
Mitchnick noted that institutional investors are turning to the AI sector instead of various altcoins.
Mitchnick argues that artificial intelligence is a more powerful and long-term force than the proliferation of new cryptocurrencies.
The expert stated, “The fundamental driving force of the future is not new tokens, but artificial intelligence (AI). Digital assets are the currency of computers, and AI is the data and intelligence of computers, so they are in a natural symbiotic relationship.”
*This is not investment advice.