Editor's PiCK
Bitcoin Hits All-Time High Amid Macroeconomic Uncertainty, Highlighting 'Digital Gold'
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- Bitcoin has reached an all-time high of $111,886, being recognized as 'digital gold'.
- James Butterfill diagnosed that expectations for regulatory clarity in the U.S. and increased institutional demand contributed to Bitcoin's rise.
- Bitcoin is gaining attention as a hedge against the fiat currency system, with a clear trend of decoupling from the Nasdaq.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Bitcoin (BTC) has reached an all-time high of $111,886 (155.32 million KRW on Upbit), with the market recognizing Bitcoin as 'digital gold' amid inflation and credit instability.
On the 22nd (local time), according to U.S. economic media CNBC, James Butterfill, head of research at cryptocurrency asset management firm CoinShares, diagnosed that "this rise is the result of a combination of expectations for regulatory clarity in the U.S., increased institutional demand, and improved market sentiment."
Notably, Bitcoin has succeeded in rebounding alone while the U.S. stock market is declining. Butterfill explained, "Amid growing macro risks such as Moody's downgrade of the U.S. Treasury credit rating, Bitcoin is being re-emphasized as a hedge against the fiat currency system."
Meanwhile, there is also an analysis that Bitcoin, which has shown a high correlation with the Nasdaq index centered on tech stocks in the past, is now showing a clear trend of decoupling.
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