BlackRock, the world's largest asset manager, emphasizes the increasing critical role of Bitcoin in institutional investment portfolios. The correlation of Bitcoin with tech stocks will determine its appeal to institutional investors, potentially positioning it as a significant asset if showing low or negative correlation during risky market events. The shift towards Bitcoin being perceived as a "safe haven" akin to gold is supported by its divergence from stocks and reduced volatility. Larry Fink, BlackRock's CEO, has long described Bitcoin as "digital gold," underpinning the company's strategy to attract investors to their Bitcoin ETF.