BlackRock Names U.S. Fiscal Deficits as Bitcoin's Most Important Driver Ahead

BlackRock says AI is taking ‘oxygen away’ from Bitcoin

Robbie Mitchnick, the head of digital assets at BlackRock Inc. (NYSE: BLK), has warned that the Artificial Intelligence (AI) boom has been sucking the oxygen out of Bitcoin (BTC). Mitchnick said that everything not tied to the AI trade, including Bitcoin, has struggled since the start of Q4 2025, according to an interview with Yahoo Finance on June 22, 2026. As a result, investors have poured capital into AI-centric assets, such as AI stocks, at…

BlackRock Names U.S. Fiscal Deficits as Bitcoin's Most Important Driver Ahead

BlackRock's head of digital assets put the sovereign debt thesis on the institutional record. What that does to career risk on Wall Street matters as much as the call itself.Key takeawaysBlackRock's Robbie Mitchnick named U.S. debt levels and fiscal deficits as Bitcoin's "most important fundamental driver ahead," drawing an explicit parallel to gold's debasement-hedge role, in a June 22 Yahoo Finance interview.Mitchnick attributed Bitcoin's weak…