Analyst: BTC to become store of value as institutional ownership shifts

Bitcoin is poised to rally and establish itself as a store of value despite ongoing outflows from spot ETFs, according to Eric Jackson, founder of EMJ Capital. He noted that BTC is currently correlated with BlackRock's tech stock ETF, IGV, which means it is positioned as a tech stock rather than a store of value. Jackson predicted that BTC will rise when the selling pressure on IGV subsides and the supply of stablecoins on exchanges begins to expand again. He added that the new buyers entering over the next few years will include sovereign wealth funds, pension funds, and corporate treasuries. Unlike existing holders, these entities are not tied to tech stock movements and are investing funds they intend to hold for decades, he explained. Jackson emphasized that the temporary departure of some institutions is part of BTC's evolution into a true store of value.