Bitcoin Hits Record High as Chainlink Founder Sergey Nazarov Says It’s Becoming a Safe Haven

Summary

• Bitcoin Nears All-Time High Amid Safe Haven Narrative: Bitcoin started the week strong, approaching new all-time highs, with industry leaders like Chainlink’s Sergey Nazarov suggesting it’s beginning to act as a haven asset, decoupling from tech stocks.

• Expert Opinions on Bitcoin as a Reserve Asset: Both Nazarov and Robinhood Crypto’s Johann Kerbrat highlighted a shift in perception, with Bitcoin increasingly being viewed as a logical alternative to gold and a reserve asset during global instability.

• Significant Corporate Accumulation: A Bitwise report revealed a substantial increase in Bitcoin holdings by publicly traded companies, nearly doubling their collective reserves from 394,131 BTC to 786,857 BTC over a recent six-month period, indicating a move towards BTC as a reserve rather than a speculative asset.

• Market Performance and Proximity to Peak: At the time of writing, Bitcoin was trading at $110,318, only about 1.2% away from its previous all-time high, underscoring its strong current market momentum.

Bitcoin Approaches New Peak as Industry Leaders, Including Chainlink’s Nazarov, Note Its Emergence as a Safe Haven Asset

Bitcoin has commenced the trading week with an upward trajectory, a development that prominent figures within the cryptocurrency industry are interpreting as an indication of BTC’s potential transition into a safe haven asset.

Expert Commentary: Bitcoin’s Decoupling and Safe Haven Characteristics

Sergey Nazarov, the creator of Chainlink (LINK), has observed that the leading cryptocurrency is exhibiting signs of decoupling from traditional stock market performance and is instead behaving more analogously to gold, as reported by Fox Business. 

Echoing his sentiment, Johann Kerbrat, Senior Vice President of Robinhood Crypto, conveyed to Fox Business that there is a growing perception of Bitcoin as a reserve asset. 

Growing Corporate Adoption as a Reserve Asset

Furthermore, crypto asset management firm Bitwise has reported that publicly traded companies are increasingly viewing BTC as a strategic reserve holding rather than a purely speculative, risk-on investment.

In a recent report, Bitwise detailed that corporate entities holding Bitcoin collectively increased their reserves from 394,131 BTC to 786,857 BTC over the six months spanning from November 15, 2024, to May 15, 2025.

This represents an accumulation of 392,726 BTC, which averages out to an acquisition rate of 196,363 BTC per quarter.

Current Market Position and Proximity to All-Time High

At the time of this report, Bitcoin is trading at $110,318, approximately 1.2% below its previous all-time high.

Also Read: Tesla’s Bitcoin Holdings Valued at $1.2 Billion Amid Fluctuating Crypto Strategy and Evolving Accounting Standards

Tesla, led by Elon Musk, currently holds approximately 11,900 Bitcoin (BTC) valued at $1.2 billion, down from an initial 43,200 BTC purchase. The company’s crypto strategy has been inconsistent, with initial integration efforts abandoned due to environmental concerns and significant sales to cover expenses. Tesla’s interest in digital currencies has been influenced by concerns about the environmental impact of Bitcoin’s proof-of-work consensus mechanism. The Financial Accounting Standards Board (FASB) has allowed companies to report the fair market value of their digital assets, a shift from previous cost accounting methods that often led to severe undervaluation of crypto holdings on balance sheets. Tesla initially disclosed its Bitcoin acquisition strategy in the first quarter of 2021, reporting the purchase of 43,200 BTC for roughly $1.5 billion. Tesla has maintained an interest in digital currencies but has had to adjust its approach due to persistent concerns about the fossil fuel consumption associated with Bitcoin mining. There is speculation about Musk’s potential integration of cryptocurrencies like Bitcoin and Dogecoin into his various business ventures. The increasing value of cryptocurrencies may lead to a reassessment of…[Read More]

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