Bitcoin holds $81,000 as Blockstream executive highlights institutional adoption

Bitcoin’s resilience around $81,000 amid wider financial-market uncertainty has put institutional adoption and technology development in focus as measures of the recovery’s strength. In an October 24 interview with Bitcoin Magazine, Peter Bain, chief marketing officer of Blockstream, described Bitcoin’s ability to hold that level as encouraging against a backdrop of equity-market moves, changes in the US 10-year Treasury yield and political unrest in Europe. Bain said adoption and infrastructure development were advancing even though those changes were not yet fully reflected in Bitcoin’s price. He also cited feedback from institutional clients as a reason for his confidence in the market. Blockstream has established Blockstream Consulting Services to help institutions adopt Bitcoin.

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