BlackRock has stated that its clients primarily view bitcoin as a store of value, not a global payment tool. The firm believes the scenario of widespread bitcoin use for everyday transactions remains speculative, while technical and economic limitations of scaling solutions pose uncertainty. Meanwhile, stablecoins are quickly establishing themselves as legitimate payment rails, capturing much more market share than Bitcoin. BlackRock’s analysis suggests that while bitcoin is being considered as a long-term investment asset, its current potential in global payments remains limited. The company’s view emphasizes the importance of scarcity, portability, and the digital gold aspect of bitcoin for attracting institutional investors. Blackrock maintains a cautious but clear stance regarding their investment strategy, focusing on Bitcoin’s store of value rather than payment functionality. Stablecoins are currently emerging as a leading force in payments, thanks to their ability to facilitate quick, cost-effective, and stable value transfers, while remaining pegged to familiar currencies like the dollar. This momentum has prompted even Cathie Wood of ARK Invest to adjust her 2030 price predictions for bitcoin down. Blackrock acknowledges that Bitcoin still holds potential for remittance transactions, particularly in developing countries where high banking fees, limited infrastructure, and capital controls make it a viable option. As such, the firm sees Bitcoin as an insurance asset and a long-term investment, potentially complemented by targeted exposure to stablecoins which are capturing growth on new payment rails.