Bitcoin price falls amid trade tensions and US inflation risks
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| Bitcoin price drops due to inflation risks in USA |
Bitcoin price fell by about 1.12% on Friday, to $104,670, amid trade tensions and inflation concerns. This decline, for the second consecutive day, follows the release of the minutes of the US Federal Reserve's May monetary policy meeting, which revealed growing concerns about persistent US inflation and the possibility of an economic slowdown.
Bitcoin price was hovering around $108,000. This decline comes shortly after Bitcoin hit a new all-time high, surpassing $111,000, on May 22.
An analytical report published in the Financial Times warned of the growing trend among some US companies to adopt Bitcoin as a primary financial asset in their business models, rather than holding traditional cash or distributing it to shareholders, highlighting the serious risks this trend could entail.
Some companies are even moving away from the US dollar and turning to Bitcoin. Among these companies is Trump Media, which raised $2.5 billion for this purpose.
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