0359 GMT - Bitcoin rises in early Asian trading, as investors continue to focus on its long-term demand drivers. The cryptocurrency is coming off its worst trading week since March 2022 as capital rotated out of digital assets into equities ahead of Alphabet's $85 billion share sale and the coming $75 billion SpaceX offering, financial services firm AlchemyJ says. Still, corporate asset managers highlight Bitcoin's long-term demand drivers all remain intact, including large fiscal deficits, persistent inflation, currency debasement concerns and the cryptocurrency's growing role as a hedge alongside gold. Bitcoin is last up 2.1% at $63,151.05. (jason.chau@wsj.com)
(END) Dow Jones Newswires
June 07, 2026 23:59 ET (03:59 GMT)
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