Bitcoin Nears $118,000 Amid Mixed Views on Its Role as a Digital Macro Hedge

Key Points

1. Bitcoin reached a new high near $118,000, driven by institutional inflows and ETF adoption, highlighting its growing acceptance as a maturing asset class.

2. Peter Schiff compared Bitcoin to silver, noting silver's lower downside risk compared to Bitcoin's volatility, despite Bitcoin's price surge.

3. Arthur Hayes expressed slight bearishness due to potential liquidity reductions from US Treasury debt issuance but suggested Ethereum might outperform Bitcoin.

4. Roshan Robert of OKX Europe emphasized institutional shifts towards Bitcoin, with ETF inflows validating its role in evolving liquidity environments.

5. Market dynamics reflect a complex interplay between macroeconomic factors, altcoin momentum, and traditional stores of value like silver.