As the markets have been reeling from geopolitical tensions and economic uncertainty, Bitcoin has shown Kamag -child elastic to events such as Trumb’s recent bombshells, according to blockstream CEO Adam Back.
While in the short term, the bitcoin (Btc) Can move in conjunction with stocks and other risks-on assets, the back sees long-term trend telling a different story.
“Bitcoin is completely decaying because it has climbed five or six times from the bottom of the market three years ago,” he said in an exclusive interview with Cointelegraph at the Paris Blockchain Week.
Back, which is one of the original Cypherpunks and a major contributor to the early development of Bitcoin, predicts strong tailwinds of adoption for BTC: regulation clarity, institutional interests, and the legitimate force of funds exchanged exchange (ETF). He noted that while most long -term holders were “all in” and could not buy dips, creatures such as Blackrock and Sovereign wealth funds would come in, quietly absorbing supply.
The Blockstream CEO also touched the geopolitical dimension, discussing a scenario in which governments could start actively taking Bitcoin. “If the US government does not continue to buy spree and buy 1 million Bitcoin over the next five years, which provides more time for new ones who have gained access finally through brokers and through ETFs to develop the Bitcoin position.”
Despite the short-term volatility, the back remains firmly emerging in the mid-term perspective: “Usually, there will be half a dozen 30% drops in a bull market, so I think maybe where we are today.”
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