ChainCatcher report, according to CoinDesk, Robbie Mitchnick, Head of Digital Assets at BlackRock, stated at the New York Digital Assets Summit that AI is becoming a more significant long-term driver in the cryptocurrency space than the proliferation of altcoins. Mitchnick noted that institutional clients’ allocation focus has become highly concentrated on BTC and ETH, with continued declining interest in other tokens. He believes that the vast majority of tokens circulating in the market have little to no value, and that leadership among top tokens changes frequently—only BTC and ETH have maintained sustained market positions. Regarding the relationship between AI and cryptocurrency, Mitchnick positioned cryptocurrency as a computer-native currency, naturally synergistic with AI’s computer-native data and intelligence. He argued that AI agents are extremely unlikely to adopt traditional payment systems such as Fedwire or SWIFT, and that cryptocurrency is poised to become the infrastructure of the AI economy.
BlackRock Executive: AI to Drive the Next Crypto Cycle
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Summary
Robbie Mitchnick, Head of Digital Assets at BlackRock, told the New York Digital Asset Summit that AI is emerging as a stronger long-term driver for crypto than altcoin growth. Institutional investors remain focused on BTC and ETH, with interest in other tokens waning. Mitchnick noted that most tokens lack real value, while the connection between AI and crypto continues to grow. He added that developments in digital assets underscore how crypto could become the backbone of the AI economy.
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