Bitcoin investors’ top 2 concerns, BlackRock’s Mitchnick explains

Yahoo Finance Video and Julie Hyman

Fri, February 13, 2026 at 8:00 AM GMT+9

In this video:

BTC-USD

-1.64%

BlackRock’s head of digital assets, Robbie Mitchnick, joins Yahoo Finance anchor Julie Hyman at Bitcoin (BTC-USD) Investor Week 2026 in NYC to explain why bitcoin hasn’t responded to the debasement trade like gold (GC=F) and silver (SI=F) have.

Watch the video above to hear what Mitchnick says bitcoin investors should focus on this year.

To watch more expert insights and analysis on the latest market action, check out more Market Domination.

Video Transcript

00:00 Speaker A

this is what sort of people might find confusing, Robbie.

00:03 Speaker A

You know, for a long time Bitcoin has sort of been built digital gold, right? And yet we’re coming off a period of time where because of the debasement trade to your point, gold has done very well until the recent volatility and Bitcoin has not. Why hasn’t Bitcoin been that deba- why haven’t has it been part of the debasement trade and gold and silver have?

00:21 Robbie

Yeah. Well, I think what happened is actually Bitcoin front ran it. So Bitcoin was up over 100% in 2023. It was up over 100% in 2024 and it had this huge momentum in part because the political regulatory climate. So it probably got a little ahead of itself, right? And gold and silver were much more muted during those periods. Now that they’ve caught up in some respects and had, you know, both had a terrific 2025, gold and silver did, Bitcoin did not because there was uh that that front running in effect and because so much leverage got built up, particularly in these levered perpetual futures markets, that ultimately there was a uh reversal in part of that. And so I think that now some of the overhang of speculative excess uh is being wrung out of the system as it has to be before you can have a good solid fundamental rally resume.

01:02 Speaker A

And and what would be a catalyst for that rally? Or does it need a catalyst or does this ringing out just need to be done or completed whatever that looks like?

01:11 Robbie

Well, I think one focus for sure is going to be on the direction of interest rates. No no question about that. And the other is I think where and when do investors start to refocus uh around concerns over the level of debt and deficits around the world and fears of uh monetary debasement, money printing, inflation and general geopolitical instability. I think that is sort of the longer-term story that’s a little bit harder to uh to predict in terms of timing.

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