Bitcoin recorded a record high of $111,980 earlier this month, supported by positive regulatory signals, including progress on the stablecoin bill, alongside rising macroeconomic uncertainty. Analysts believe that this shift reflects an increasing acceptance of Bitcoin as a legitimate means of hedging in investment portfolios. Christopher Wood, Global Equity Strategist at Jefferies, stated: "I remain optimistic about both gold and Bitcoin. They continue to be the best hedges against the erosion of currency values in the G7 countries."

However, skeptics warn that Bitcoin's volatility still undermines its status as a true safe haven. In the past, during major economic shocks, such as the collapse of yen-funded carry trades in August, Bitcoin plunged sharply alongside other high-risk assets.