Allianz declared Bitcoin (BTC) a “credible store of value” in a recent investment report, marking the first time the $2.5 trillion asset manager has endorsed digital assets as a legitimate institutional investment.

The report, titled “Bitcoin and Cryptocurrencies: The Future of Finance,” represents a dramatic shift from Allianz’s 2019 policy against Bitcoin investments. 

The German investment giant now characterizes Bitcoin’s evolution from “an experimental protocol into a credible store of value” as fundamental to modern portfolio construction.

The report stated:

“Bitcoin’s deflationary design, decentralised governance, and low correlation to traditional markets have made it an attractive hedge and long-duration asset.” 

Allianz highlighted Bitcoin’s 0.12 correlation with the S&P 500 and negative 0.04 correlation with gold, positioning it as an effective portfolio diversifier.

Institutional adoption drives recognition

Allianz cited accelerating institutional adoption as a key factor in Bitcoin’s legitimization. The report noted that corporate treasuries surpassed exchange-traded funds (ETFs) in Bitcoin purchases for three consecutive quarters through the second quarter, with public companies acquiring approximately 131,000 BTC in the second quarter alone.

The asset manager emphasized university endowments’ emerging crypto strategies, highlighting Emory University as the first U.S. institution to disclose significant Bitcoin investments publicly. 

Allianz characterized this trend as signaling “the integration of digital assets into both operational and investment strategies across higher education.”

Federal Reserve Chairman Jerome Powell’s recent acknowledgment of Bitcoin as a “digital counterpart to gold” further validated institutional acceptance, according to the report. 

Allianz noted that regulatory clarity improvements globally have eliminated major barriers to institutional participation.

Infrastructure maturation enables access

The report credited infrastructure development with facilitating institutional entry. Regulated exchanges like Coinbase, institutional-grade custodians including Fidelity Digital Assets, and SEC-approved spot Bitcoin ETFs have “bridged the gap between traditional finance and crypto.”

Allianz described Bitcoin’s transformation as “one of the most profound shifts in modern finance,” predicting continued integration into mainstream portfolios. 

The firm expects real-world asset tokenization and decentralized finance to “substantially expand crypto’s total addressable market.”

The endorsement carries significant weight given Allianz’s status as one of Europe’s largest asset managers. A piece from the company’s policy issued in 2019 explicitly avoided crypto investments due to regulatory uncertainty and volatility concerns.

Allianz concluded that “barring any unforeseen calamity or global collapse due to technological flaws,” Bitcoin represents a permanent addition to the financial system rather than a speculative trend.

It further stated that digital assets are “not just a complement to but a cornerstone of our global financial future.”

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Jack Dorsey, the founder of Twitter and CEO of Block, has thrown his support behind a new messaging application called White Noise.

His endorsement follows the recent release of his white paper for Bitchat, a Bluetooth-based messaging platform without internet connectivity.

Bitchat aims to be a privacy-first chat app that ditches the internet altogether to create localized chat rooms. Phones link up via Bluetooth Low Energy to form an ad hoc mesh where every device relays, stores, and forwards end-to-end encrypted messages. Thus, chats keep flowing, even through 30 m-hop chains, when networks are down or censored.

No phone numbers, servers, or permanent IDs are needed, and ephemeral storage plus optional password-protected rooms round out a design meant for resilient, censorship-resistant communication anywhere people gather.

White Noise

White Noise is a more conventional privacy-first alternative to mainstream chat apps. It combines features commonly found on Telegram, WhatsApp, and Discord with the security architecture of platforms like Signal.

The goal is to offer secure peer-to-peer messaging without compromising on design or usability.

White Noise uses end-to-end encryption backed by strong cryptographic standards, including forward secrecy and post-compromise protection. These ensure that past and future messages remain secure even if encryption keys are compromised.

Unlike traditional centralized commercial apps that rely on email addresses or phone numbers, White Noise operates on a decentralized identity system built on Nostr’s infrastructure and the Messaging Layer Security (MLS).

This setup allows users to access their identity, data, and contact lists across different apps and platforms without being tied to a central service. It also allows users to communicate anonymously, an important feature in regions with widespread surveillance and internet censorship.

Instead of relying on centralized servers, White Noise is powered by a network of distributed nodes. If a government or internet service provider attempts to block access, users can switch relays or host their own, maintaining access without sacrificing privacy.

According to the project’s website, even if an ISP attempts to intercept data, only encrypted metadata is visible. Notably, this metadata does not expose the message content.

The project stated:

“Messages in White Noise are encrypted end-to-end and temporarily relayed through several Nostr servers, which cannot read them and don’t permanently store them. Relays act as transient delivery points, discarding data after transmission.”

Looking ahead, White Noise reportedly plans to introduce native Bitcoin payments via Lightning Network and Nostr zaps. This would enable financial transactions directly within chat windows.

The app will be open source, with code published on GitHub. It will be available across multiple platforms, including Nostr’s Zap Store, Google Play (upon approval), and Apple TestFlight.

What’s most interesting here is that Dorsey, while seemingly actively developing a novel ‘internet-free’ secure messaging app, appears content to promote potential competitors that share his privacy-first vision for global communications.

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