0736 GMT - Bitcoin stands to benefit as investors seek protection against losses stemming from geopolitical uncertainty, Zaye Capital Markets analyst Naeem Aslam says in a note. President Trump threatened sanctions on anyone who buys Iranian oil Thursday. His "aggressive foreign policy tone" adds a layer of uncertainty that could bolster bitcoin's appeal as a geopolitical hedge, Aslam says. Trump's inner circle is also embracing the cryptocurrency more publicly with Eric Trump and Donald Trump Jr. set to speak at the Bitcoin 2025 conference from May 27-29, he says. "Institutional appetite remains strong too: BlackRock bought $350 million in bitcoin, and Invesco's exchange traded fund saw $10.6 million in inflows just yesterday." Bitcoin rises 0.1% to $96,617 , according to LSEG.(renae.dyer@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 03:36 ET (07:36 GMT)
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