Bitcoin’s price is down nearly 50% since its October record. But investors shouldn’t worry, the world’s largest asset manager has said, and the cryptocurrency still plays a role as “a global monetary alternative.” 

In a report Monday, Robert Mitchnick, global head of digital assets at the firm, said that the ongoing rise in U.S. and global government debt and deficits hasn’t slowed. 

BlackRock has argued alongside other Bitcoin proponents that the oldest and biggest cryptocurrency can be a hedge against governments printing money. 

JUST IN: $15 trillion BlackRock reports they’re still bullish on Bitcoin despite the -50% decline from its all time high…

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