PANews reported on April 22 that according to Jinshi, Bernstein believes that despite short-term volatility, the prospects for digital assets remain optimistic, and pointed out five structural catalysts supporting Bitcoin's resilience and future potential. Analyst Gautam Chhugani stated in the report: "The macro environment is favorable for gold, and therefore also favorable for digital gold (Bitcoin)." He emphasized that Bitcoin has a higher beta and "upside potential" compared to gold. Additionally, the Trump administration's regulatory attitude towards cryptocurrencies is becoming more supportive, especially as the digital asset industry increasingly aligns with political interests.
Here are the five key catalysts listed by Bernstein: ①Continuous Bitcoin purchases, more resilient capital base: Strong institutional demand, limited Bitcoin ETF capital outflows, reduced selling pressure in April, nearly 80 companies have incorporated Bitcoin, such as MicroStrategy's continuous buying. ②New purchase plans for Strategic Bitcoin Reserves (SBR): The US government may expand Bitcoin holdings, considering revaluation through gold certificates or issuing Bitcoin-backed bonds. ③Mainstream banks accepting cryptocurrencies: Driven by regulation and institutional interest, cryptocurrencies are returning to the mainstream financial system, with banks exploring stablecoins for cross-border settlements and expanding into crypto custody services. ④Progress in stablecoin regulation: A key regulation this year is the passage of the stablecoin bill, with banks and fintech companies expected to widely adopt stablecoin technology for remittances and B2B payments. ⑤Push from asset management firms and brokers: Global financial institutions are investing in crypto infrastructure, with brokers and asset management companies strongly promoting crypto businesses, such as Robinhood and Coinbase leading innovations in tokenized securities and stablecoin settlements.
