Based on the content of the PDF, this document from BlackRock appears to be generally positive for Bitcoin proponents. The paper, titled "Bitcoin: A Unique Diversifier," argues that Bitcoin has distinct risk and return drivers that are fundamentally uncorrelated with traditional asset classes over the long term. BlackRock presents Bitcoin as a potentially valuable portfolio diversifier due to its nature as a scarce, non-sovereign, decentralized global asset. The document highlights Bitcoin's historical outperformance compared to major asset classes, its low long-term correlation with equities and bonds, and its potential appeal as a hedge against geopolitical risks, monetary instability, and concerns over U.S. fiscal sustainability. While acknowledging Bitcoin's volatility and risks, the paper suggests that at modest allocations, Bitcoin can have a diversifying effect on portfolios. This perspective from a major financial institution like BlackRock could be seen as validating Bitcoin's role in the broader financial ecosystem, which would likely be viewed positively by Bitcoin enthusiasts.
And indeed it is, there is no better asset than Bitcoin, although I would like it to be in the hands of those in need and not in those of an investment fund.
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Everyone gets bitcoin at the price they deserve
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