Bitcoin surged to nearly $118,000, hitting fresh all-time highs and reigniting discussions about its viability as a digital macro hedge currency. The rally is largely attributed to accelerating institutional investment and increased ETF adoption, signaling broader acceptance of cryptocurrencies as a maturing asset class.
Market commentators remain divided on Bitcoin’s risk profile. Economist Peter Schiff highlighted silver’s comparatively lower downside risk versus Bitcoin’s volatility, despite acknowledging Bitcoin’s price appreciation. Schiff emphasized silver’s position as a traditional store of value amid debates about cryptocurrency’s stability.
Meanwhile, BitMEX co-founder Arthur Hayes revealed a slightly bearish stance stemming from potential liquidity tightening by the U.S. Treasury through debt issuance. Hayes suggested Ethereum might outperform Bitcoin in the coming period.
Institutional perspectives reinforce Bitcoin’s evolving status. Roshan Robert from OKX Europe underscored structural shifts toward Bitcoin adoption among institutions, noting that consistent ETF inflows substantiate Bitcoin’s role in changing liquidity landscapes.
The market displays intricate dynamics involving macroeconomic pressures, altcoin momentum, and competition with established assets like silver as investors navigate cryptocurrency’s volatility against traditional safe havens.