"US Government and Institutions Rush to Hold Bitcoin... Korea Should Also Join the Leadership Competition"

"This Year, Global Institutional Investors... Will Increase Bitcoin Asset Inclusion"

Virtual Asset Investment Insight Forum

BlackRock "US Bank Transaction Expansion"

Time to Consider Won Stablecoin

There is a forecast that global institutional investors will accelerate the inclusion of Bitcoin assets this year. It is also predicted that banks in major financial advanced countries, including the United States, will actively enter the Bitcoin-related market.

Robert Michnick, Head of Digital Assets at BlackRock, said at the 'Virtual Asset Investment Insight Forum 2025' held by the Korea Economic Daily at the Conrad Hotel in Yeouido, Seoul on the 25th, "This year will be an important year for major investment institutions to decide whether to include Bitcoin in their asset portfolios," he predicted. Michnick is the person in charge of digital assets at BlackRock, the world's largest asset manager. He stated, "Last year, large institutional investors reviewed the risks, returns, volatility, and portfolio size of Bitcoin," and "Large investors who viewed Bitcoin as a politically uncertain asset are now expected to quickly adopt it as an asset." He added, "US banks are likely to officially provide services such as Bitcoin custody, trading, and brokerage for institutions."

Kim Yong-beom, CEO of Hashed Open Research and former Vice Minister of Strategy and Finance, emphasized, "The fact that US President Donald Trump designated Bitcoin as a strategic reserve asset means that it is seen as a very significant asset to the extent of betting a country's fate," and "We should focus on the fact that Bitcoin has risen to the status of a new asset, rather than whether to invest in a few Bitcoins immediately." Lee Jong-seop, a professor at Seoul National University's Business School, suggested, "We cannot stop the digitization of traditional finance," and "Korea should carefully and seriously consider the won stablecoin policy."

About 300 people, including Yoon Han-hong, Chairman of the National Assembly's Political Affairs Committee, and Kim So-young, Vice Chairman of the Financial Services Commission, attended the event.

The First Korea Economic Daily Virtual Asset Forum... 300 Attendees Including Government and Financial Figures

"The US is directly storing Bitcoin as a strategic asset by the President, but in Korea, Bitcoin is not even recognized as a financial product yet."

Kim Yong-beom, CEO of Hashed Open Research, said this as a speaker at the 'Virtual Asset Investment Insight Forum 2025' hosted by the Korea Economic Daily at the Conrad Hotel in Yeouido, Seoul on the 25th. Speaking on the theme of 'Innovation Driven by the Convergence of Traditional Finance and Crypto,' Kim pointed out, "The rules are already changing by the country (US) that creates and leads the rules (for cryptocurrencies), but Korea is far behind."

◇ "Korea Lags in Cryptocurrency Regulation and Perception"

Speakers at the forum commonly pointed out that the Korean government's perception of cryptocurrencies does not reach global standards. The US government actively accepts cryptocurrencies like Bitcoin and stablecoins within the system as a means to ensure the sustainability of dollar hegemony, but Korea only sees them as a target of regulation. Kim stated, "After the US approved the spot Bitcoin ETF last year, the size of Bitcoin ETF assets in the global market grew faster than any other asset class in the past," and "In the US, the debate over whether cryptocurrencies are financial assets is already over, but in Korea, even the spot Bitcoin ETF has not been approved yet."

There was also a warning that Korea's closed cryptocurrency regulation operation would eventually lead to a national wealth outflow. Min-seung Kim, head of Korbit Research Center, said, "In the US, where legal risks have decreased, a 'crypto killer app' that the whole world uses is likely to emerge as a platform soon," and "While Facebook and Instagram absorbed domestic advertising, the crypto killer app will absorb Korea's wealth."

◇ "Focus on Institutional Movements This Year"

At the forum, global virtual asset operators also introduced overseas cryptocurrency market trends to Korean investors and shared investment strategies. Robert Michnick, Head of Digital Assets at BlackRock, emphasized, "Bitcoin is a risky asset," but "Even with a small proportion, Bitcoin has had a positive effect on portfolios." He explained, "Bitcoin's volatility has a low correlation with other asset classes, making it an effective diversification role in portfolios."

Michnick analyzed that although Bitcoin prices hit a yearly high last year, they did not rise sufficiently due to supply and demand factors. The German government sold $3 billion worth of Bitcoin last year, and the Japanese cryptocurrency exchange Mt. Gox, which went bankrupt in 2014, started repayments to investors last year, leading to a flood of sell-offs. Michnick stated, "This year, the bankruptcy and liquidation volumes have been exhausted," and "Now, the government-level Bitcoin reserve movement discussed at the US federal level is spreading to state governments, and we should watch how aggressively institutional investors accumulate Bitcoin as an asset."

Rahul Advani, Head of Policy for Asia-Pacific at Ripple, emphasized, "Korea should focus on developing a strong custody system that meets international standards while ensuring financial stability and investor protection." He said, "The roadmap announced by the Korean Financial Services Commission (last month) to gradually allow institutional participation in the digital asset market is the first step in the right direction," but "Custody has become one of the most important regulations because institutional digital asset adoption is increasing." He added, "A safe and properly regulated custody solution will be the foundation for the development of the digital asset market."

Reported by Jo Mi-hyun, Jeong Ui-jin, and Lee Young-min, Bloomingbit Reporter mwise@hankyung.com