Bitcoin’s appeal as a macroeconomic asset is strengthening as regulatory concerns ease and worries about U.S. debt, deficits, inflation and currency debasement persist, Robbie Mitchnick, BlackRock’s Head of Digital Assets, told CNBC. Mitchnick said debt and deficit concerns tend to benefit assets such as bitcoin and gold, while clearer rules are reducing legal and compliance barriers for institutional investors. The approval of spot Bitcoin ETFs in the U.S. in early 2024 created regulated access for traditional investors, and BlackRock’s iShares Bitcoin Trust (IBIT) has become one of the fastest-growing ETFs in history. Mitchnick also said the stalled CLARITY Act is less critical to bitcoin than to the broader crypto industry. Bitcoin’s fixed supply and decentralized structure support its comparison with digital gold, although volatility, evolving regulation and its relationship with traditional risk assets remain important risks.