Blockstream CEO Adam Back says that as markets struggle with geopolitical and economic tensions, Bitcoin’s relative strength has been demonstrated during recent events such as Trump’s latest tariff bombshells.
Bitcoin is a short-term investment.BTCBack says that while the short-term trends may be similar to those of stocks or other assets with a high level of risk, they are not necessarily indicative.
“Bitcoin is fully decoupled because it’s gone up five or six times since the bottom of the market three years ago,” During an exclusive Cointelegraph interview at the Paris Blockchain Week, he stated.
Back, one of the first cypherpunks to contribute to Bitcoin’s development and early stages, sees three strong tailwinds that will help BTC gain adoption. These are: clarity in regulation, interest from institutions, and legitimizing power of ETFs. While most long-term investors are already “all in” BlackRock and sovereign funds step in to absorb supply when they are unable or unwilling to purchase dips.
Blockstream’s CEO discusses the geopolitical aspect, namely a possible scenario where governments begin to actively acquire Bitcoin. “If the US government doesn’t go on a buying spree and buy 1 million Bitcoin over the next five years, that gives more time for the new entrants who’ve got access finally through brokers and through the ETFs to build up the Bitcoin position.”
Back is still bullish despite the short-term volatility: “Typically, there would be half a dozen 30% drops in a bull market, so I think that’s probably where we are now.”
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Source: cointelegraph.com
