BlackRock updates its Bitcoin outlook after historic selloff

Bitcoin crashed 50% from its $126,000 peak, yet the case for institutional adoption remains unshaken. Despite a 26% year-to-date decline, a 1-2% allocation still improves risk-adjusted returns in a 60/40 portfolio. Its tendency to tank alongside stocks is merely "episodic," not structural—meaning it isn't a traditional risk asset even when it acts like one. Is a 50% drawdown really just a "diversification" opportunity, or is the investment thesis broken? What’s your take?
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