Bernstein: Currently, investors are more likely to view Bitcoin as a non-sovereign store of value

2025-04-23 20:57:08

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ChainCatcher news, according to DL News, Bitcoin prices soared above $94,000 on Wednesday, with some analysts suggesting this indicates a shift in investor valuation of the asset.

Analyst Gautam Chhugani from brokerage firm Bernstein stated in a report to clients: "In all my time studying cryptocurrencies, this is the best performance I've seen from Bitcoin. At times like this, it's hard not to invest in cryptocurrencies."

Bitcoin has shown relative resilience during the decline of the Nasdaq index, and after the Nasdaq index rebounded, Bitcoin rebounded even more. Investors may now increasingly view Bitcoin as a non-sovereign store of value, as well as a tool for hedging against geopolitical uncertainty, policy missteps, and currency devaluation."

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