Bitcoin Price Tops $100K Amid Adoption Concerns and Macro Tailwinds

Andrew Chen | Updated on July 7, 2025
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Key Takeaways:

  • BTC remains resilient above $100K, signaling confidence amid broader economic uncertainty.
  • Bill Miller highlights lagging institutional adoption, citing TradFi’s risk aversion.
  • Macroeconomic trends and regulatory shifts could ultimately strengthen Bitcoin’s long-term role in the financial system.

Bitcoin [BTC] has successfully held its position above the $100,000 mark, trading at $108,887.85 at press time, after a 0.75% daily gain. This sustained level not only marks a significant technical and psychological milestone but also renews focus on Bitcoin’s long-term role amid growing macroeconomic uncertainty and regulatory intrigue.

Bill Miller IV: Bitcoin Still Faces Adoption Challenges

Despite Bitcoin’s strong price performance, investor and fund manager Bill Miller IV believes true adoption remains limited. Speaking on the Coin Stories podcast, Miller emphasized that mainstream finance—traditional institutions (TradFi)—have largely stayed on the sidelines due to risk-averse strategies.

“TradFi tends to be not always the first movers on this type of thing,” Miller said, underscoring the sector’s cautious approach to integrating digital assets into their portfolios.

While Bitcoin’s price may suggest growing investor confidence, its integration into everyday financial systems and usage by the average consumer still lags far behind.

Stablecoin Regulation Could Reinforce U.S. Treasuries

A particularly compelling part of the podcast discussion revolved around the possible regulatory mandates for stablecoin issuers. The idea of requiring these issuers to hold U.S. Treasuries as reserves could inadvertently deepen the link between digital assets and traditional financial instruments.

Such a requirement, while framed as regulatory prudence, could help support U.S. dollar dominance globally—even as other fiscal policies threaten to weaken it. Miller acknowledged the complexity of such interactions, noting the scale of Treasury involvement in crypto remains uncertain, but increasingly relevant.

Macroeconomic Turbulence Strengthens Bitcoin’s Long-Term Case

Meanwhile, a dip in active Bitcoin addresses points to reduced on-chain activity, often interpreted as a cooldown after bullish rallies. However, this shouldn’t be mistaken for long-term bearishness. Rather, it reflects the ongoing market indecision and the “wait-and-hold” behavior of long-term investors.

Miller offered a broader perspective, pointing to global inflation and mounting government deficits—like the U.S.’s $1.9 trillion shortfall—as a backdrop that could reinforce Bitcoin’s value proposition. “Nothing stops this train,” he said, referring to relentless monetary expansion.

Also Read: Experts Clash Over US Bitcoin Reserve Strategy

By overlaying BTC’s price with M2 money supply growth, Miller noted a strong correlation that supports Bitcoin as a hedge against fiat debasement.

Despite adoption gaps and temporary network slowdowns, Bitcoin’s underlying narrative as a hedge against inflation and fiat instability remains intact.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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