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Bitwise Asset Management's Bradley Duke still bullish on Bitcoin despite tariff turmoil
Bitwise Asset Management European Head Bradley Duke talked with Proactive's Stephen Gunnion about Bitcoin's resilience amid market volatility and the macroeconomic factors that continue to provide a bullish backdrop for the cryptocurrency.
Speaking from Paris Blockchain Week, Duke noted that despite Bitcoin falling from its early-year highs of nearly $110,000 to around $83,000, market conditions remain supportive. He pointed to expectations of inflation, potential global rate cuts, and an expanding money supply as strong tailwinds. “The setup is very bullish at the moment,” he said, noting that supply-side constraints could accelerate any price recovery.
Duke also highlighted growing interest from sovereign and corporate investors. He cited discussions in countries like Sweden, France, and Japan around holding Bitcoin as a strategic reserve, alongside listed companies and smaller private firms adding Bitcoin to their treasuries. “Currently, the corporate demand for Bitcoin is outstripping the supply by more than two times,” Duke explained.
He concluded by noting the historically low exchange balances of Bitcoin, signalling a lack of sellers. “My feeling is that when it does start to move back up again, it's going to jump up because there simply aren't any sellers,” he added.
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