Bitcoin (BTC-USD) and other crypto-related assets have rallied following President-elect Donald Trump’s win as the second Trump administration is expected to be crypto-friendly. BlackRock head of digital assets Robbie Mitchnick joins Julie Hyman and Josh Lipton on Market Domination Overtime to discuss his perspective on the crypto space and the “critical” distinction that bitcoin is a risky asset, not a risk-on asset.

“I think obviously the election and the sort of confidence and optimism that the market has had coming out of that for bitcoin and crypto as a part of it. I also think, frankly, 2024 was probably a tough year for bitcoin [excluding] the ETFs happening,” Mitchnick explains, “because you had the confluence of higher interest rates for longer than was expected, you had four bankruptcy liquidations that were a decade in the making that had been sort of constant selling pressure in the market. That was sort of offset by the new access that the ETFs had created.”