Bitcoin records largest weekly dollar gain in history; Strive CEO predicts ‘strongest’ cycle ever
Strive CEO said the next bitcoin cycle will be the strongest ever, citing its strong performance against both the dollar and gold.
Bitcoin recorded its largest weekly gain in dollar terms in the cryptocurrency's history, marking a significant milestone for the asset as it continues its upward trajectory. Strive Asset Management CEO Matt Cole stated that the current bitcoin cycle will be the "strongest ever," pointing to the digital asset's robust performance measured against both the U.S. dollar and gold as key indicators supporting that outlook.
The record weekly dollar gain underscores bitcoin's growing market capitalization and the expanding volume of capital flowing into the asset. Historically, bitcoin cycles have been measured in percentage terms, where earlier bull runs produced larger relative gains. However, as bitcoin's total value has grown substantially, absolute dollar movements have become increasingly significant metrics for institutional observers tracking the market.
The comments from Strive's CEO reflect a broader shift in how asset managers are framing bitcoin's investment case, particularly its performance relative to traditional stores of value such as gold. Bitcoin's strength against gold has drawn renewed attention from wealth managers and institutional allocators who have traditionally favored the precious metal as an inflation hedge and portfolio diversifier.
Market participants will be watching whether bitcoin can sustain its momentum heading into the historically active autumn trading period, as well as how institutional inflows via spot ETF products continue to develop. Macroeconomic conditions, including Federal Reserve policy decisions, are also expected to influence price action in the weeks ahead.
Source: The Block
