BlackRock Expert Predicts Artificial Intelligence to Drive Crypto's Next Phase

At the Digital Asset Summit in New York, BlackRock's head of digital assets, Robbie Mitchnick, shared his insights on the future of cryptocurrency. According to Mitchnick, artificial intelligence is set to play a crucial role in driving the next phase of crypto's development.

Mitchnick pointed out that institutional investors are no longer seeking broad exposure across multiple tokens, instead focusing their holdings on Bitcoin and Ethereum. He noted that turnover among top tokens is high, with most newer tokens failing to maintain relevance long enough to attract sustained institutional interest.

However, Mitchnick believes that AI presents a larger structural theme than crypto alone. He sees a natural connection between AI and crypto, with the latter filling the gap in existing financial infrastructure for AI-driven activity. In his words, 'crypto is computer-native money,' while AI is 'computer-native data and intelligence.' This symbiosis positions Bitcoin and crypto infrastructure as functional components of the AI economy.