BlackRock says Bitcoin's 50% drop since 2025 pe...

BlackRock stated that Bitcoin's drop of over 50% from its October 2025 record high to below $60,000 in June 2026 does not change its long-term investment thesis. The asset manager attributed the decline to excessive leverage, weaker institutional flows, and reduced buying by digital asset treasury companies, rather than a fundamental change in Bitcoin's monetary or diversification qualities. BlackRock's analysis suggests a small 1-2% Bitcoin allocation can improve portfolio risk-adjusted returns, though it warns Bitcoin remains volatile and speculative, with future direction depending on ETF flows, futures positioning, and treasury sales.