Why does BlackRoc believe Bitcoin (CRYPTO) demand could increase?

BlackRock (NYSE) said Bitcoin (CRYPTO) could benefit if investors become more concerned about U.S. government borrowing and deficits. The firm expects those issues to receive greater attention ahead of the 2026 U.S. midterm elections.

What does JPMorgan Chase (NYSE) expect from artificial intelligence investments?

JPMorgan Chase (NYSE) Chief Executive Jamie Dimon said artificial intelligence spending could reach about US$700 billion this year. He said continued investment in AI is helping support the current stock market rally.

How has Bitcoin (CRYPTO) performed compared with its previous peak?

Bitcoin (CRYPTO) was trading near US$64,360 at the time of the report, down about 49% from its October 2025 record high of US$126,080. The decline has occurred while capital has continued to flow into AI-related investments.

What do the latest Bitcoin (CRYPTO) ETF flows show?

According to NYDIG, spot Bitcoin (CRYPTO) exchange-traded funds have recorded US$6.4 billion in net outflows since May 7. The data suggests institutional demand for Bitcoin has weakened during that period.

How have stablecoin flows affected Bitcoin (CRYPTO) demand?

NYDIG reported that stablecoin balances declined by about US$8 billion since May 22 alongside weaker Bitcoin (CRYPTO) demand. The reduction indicates that some capital has moved out of digital asset markets during recent months.

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BlackRock and JPMorgan diverge on Bitcoin

Written by Heidi Cuthbert Published Jun 23, 2026, 12:15 AM

BlackRock said concerns about U.S. debt and borrowing could revive demand for Bitcoin ahead of the 2026 midterm elections.
JPMorgan CEO Jamie Dimon said artificial intelligence investment continues to support the current stock market rally.
Recent ETF outflows and weaker Bitcoin demand have coincided with strong capital flows into AI-related investments.

BlackRock and JPMorgan Chase have presented contrasting views on where investor capital may flow next, with BlackRock highlighting Bitcoin (CRYPTO:BTC) and JPMorgan pointing to artificial intelligence.

The debate comes as Bitcoin trades near US$64,360, about 49% below its October 2025 record high of US$126,080, while AI-related stocks have helped push the S&P 500 above 7,600.

“And the more fear there is over the borrowing level and the risk of money printing, that is ultimately the most important, I think fundamental driver ahead,” said BlackRock Head of Digital Assets Robert Mitchnick.

Mitchnick said Bitcoin has lagged because investor attention has shifted toward artificial intelligence, but he expects concerns over U.S. deficits and government borrowing to regain focus around the 2026 midterm elections.

JPMorgan Chief Executive Jamie Dimon said AI spending is on track to reach approximately US$700 billion this year and described the current market as a bull market, while Following the announcement the Bitcoin price was unchanged at approximately US$64,360.

According to NYDIG, spot Bitcoin exchange-traded funds have recorded US$6.4 billion in net outflows since May 7, while stablecoin balances have declined by about US$8 billion since May 22.

The differing views reflect a broader debate over whether future capital flows will be driven by macroeconomic concerns that support Bitcoin or continued investment in artificial intelligence and related technology companies.

At the time of reporting, Bitcoin price was $63,902.73.

BlackRock and JPMorgan diverge on Bitcoin

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