Bitcoin has 'fully decoupled' from market turmoil, according to Blockstream CEO Adam Back.
Back believes that while Bitcoin may move in tandem with other assets in the short term, it has shown resilience and long-term decoupling due to its significant price increase over the past three years.
He cites regulatory clarity, institutional interest, and the introduction of exchange-traded funds (ETFs) as factors contributing to strong adoption of Bitcoin.
Back predicts that entities like BlackRock and sovereign wealth funds will continue to absorb Bitcoin supply, while mentioning the potential for governments to acquire significant amounts of Bitcoin in the future.