Robbie Mitchnick, Head of Digital Assets at BlackRock, stated that Bitcoin investors are not betting on it becoming a global payment network. 'The payment function is merely an out-of-the-money option-like additional upside,' and the current investment logic is still dominated by the 'digital gold/value storage' narrative. Mitchnick pointed out that for Bitcoin to become a payment tool, significant breakthroughs are still needed in areas such as scaling and the Lightning Network. In contrast, stablecoins have 'achieved great success' in the payment field and will expand from crypto trading and DeFi to retail remittances, cross-border corporate payments, and capital market settlements in the future. He believes Bitcoin still has competitiveness in retail remittance scenarios, but its prospects for large-scale payments are more speculative.