Core Viewpoint - Bitcoin is showing signs of a potential shift towards being viewed as a store of value similar to gold, rather than a high-risk asset correlated with stocks [1][2][3] Group 1: Bitcoin's Recent Performance - Bitcoin has demonstrated relative strength against U.S. stocks and the dollar, which have both declined due to uncertainties surrounding Trump's trade policies [1] - Over the past month, Bitcoin has increased by 7.1%, while the Dow Jones Industrial Average has decreased by 6%, and the ICE Dollar Index has fallen by 4.7% [2] - Despite this, Bitcoin remains 14.5% below its all-time high of $109,225 reached on January 20 [2] Group 2: Institutional Adoption and Market Sentiment - There is a belief that Bitcoin may have reached a level of institutional adoption, with investors beginning to focus on its intrinsic value rather than viewing it solely as a high-beta tech stock [3] - The launch of Bitcoin exchange-traded funds (ETFs) has opened avenues for more institutional investment in cryptocurrencies [3] - The uncertainty surrounding the dollar's status as a reliable safe-haven asset may lead investors to consider Bitcoin as a potential refuge during market turmoil [3] Group 3: Factors Influencing Bitcoin's Value - The recent strength of Bitcoin may be driven by unique factors, such as the continued purchases by Strategy (formerly MicroStrategy), which bought $555.8 million worth of Bitcoin recently [2] - The narrative surrounding Bitcoin's price remains complex, with potential benefits from increased liquidity, but it lacks traditional economic indicators like profits or cash flow [4] - Expectations of further interest rate cuts by the Federal Reserve could also drive Bitcoin prices higher, with traders anticipating at least two more cuts by the end of the year [4]