Gordon Grant, head of derivatives at Bitwise, argues that Bitcoin’s digital gold status will be validated by sanctioned states accumulating it, not by price charts. Russia turned this theory into official policy on July 1 by legalizing Bitcoin and stablecoin payments in foreign trade to bypass Western sanctions. VanEck counts up to 13 government mining programs, while BTC trades near $60,347 with a $1.21 trillion market cap, with its 200-day S&P 500 correlation retreating toward zero. Iggy Ioppe, CIO at Theo, counters that Bitcoin fell almost 50%, failing short-term hedge tests, though both experts agree on the long-term monetary store-of-value thesis for the digital asset.
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