"I’m pretty sure we’ll soon see countries battling over who owns more Bitcoin.The US will start.”Bitcoin demand has accelerated since US President Donald Trump announced sweeping tariffs on US imports in April, setting off a global trade war.“The only thing that still acts as a true hedge — across borders, against inflation — is Bitcoin,” Animoca Brands co-founder Yat Siu said during the panel. Yat Siu and Sergej Kunz at Cointelegraph's LONGITUDE.
Bitcoin (BTC) is evolving into an alternative reserve currency, propelling institutional demand and potentially pricing out retail investors, Kunz said during Cointelegraph's LONGITUDE event in Dubai. "Every retail user should be thinking about getting at least one Bitcoin — very soon they won’t be able to afford it,” Kunz said. If the United States starts buying Bitcoin for a strategic reserve, even smaller countries may soon struggle to acquire the cryptocurrency, he added.
During the week of April 21-25, Bitcoin exchange-traded funds (ETFs) attracted more than $3 billion in inflows as institutions sought safety in “digital gold” amid mounting macroeconomic uncertainty. Analysts say demand from financial institutions could push Bitcoin’s price as high as $200,000 per coin this year.
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Author / Journalist: Cointelegraph by Alex O’Donnell
The story "Institutional Bitcoin buying may soon price out retail — LONGITUDE panel" has 399 words across 18 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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