During a recent digital assets conference in Brazil, BlackRock, the world's largest asset manager, presented contrasting views on Bitcoin and Ethereum.

Robbie Mitchnick from BlackRock categorized Bitcoin as a 'gold alternative' and Ethereum as a speculative technology bet, reflecting a significant shift in how digital assets are perceived in traditional finance.

Rick Rieder, BlackRock's Chief Investment Officer, pointed out Bitcoin's limited supply as a key factor that enhances its attractiveness during market volatility.

Mitchnick emphasized Bitcoin's role as a 'risk-off' asset, similar to gold, which can serve as a safe haven during economic turmoil and inflation.

BlackRock's findings suggest that Bitcoin is increasingly viewed as a hedge against inflation, appealing to investors looking for wealth protection amid economic uncertainty.

Market analysts suggest that Bitcoin may increase in value during geopolitical tensions, while Ethereum could face declines under similar circumstances.

The firm argues that Bitcoin's decentralized nature and scarcity could make it a more appealing investment compared to gold, especially as central banks engage in extensive money printing.

Despite its speculative nature, BlackRock remains optimistic about Ethereum's future growth potential as more companies explore blockchain applications.

At the time of reporting, Bitcoin was showing signs of recovery, trading at $63.5k after a 2.5% increase in the last 24 hours, while Ethereum was valued at $2,400.

Analysts from JPMorgan believe Bitcoin could benefit from geopolitical risks and the upcoming U.S. presidential election, although Standard Chartered predicts it may drop below $60k due to current conflicts.

In contrast, Mitchnick described Ethereum as a 'risk-on' asset, likening it to U.S. stocks and suggesting it is a speculative investment tied to the adoption of blockchain technology.

The article concludes by advising readers to conduct their own research and consult financial advisors before making investment decisions.