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Bitcoin is at an all-time-high! Here’s a sneak peek into the future of Bitcoin
Bitcoin has broken its all-time-high nine times in a span of just a month! That is the most number of times it has ever reached an all-time high ever since its inception. What was once just a whitepaper is now among the top 10 assets worldwide. Bitcoin’s market capitalization is even greater than a few countries’ GDP, combined.
After all, what is fueling Bitcoin’s exponential growth? In this blog, we’ll explore the forces driving Bitcoin’s meteoric rise and take a sneak peek into its future.
Bitcoin is heading toward six figures for the first time in history with its record-breaking rally on 22nd November. Bitcoin reached as high as $99,027 earlier that day, a never seen before ATH since the U.S. presidential election.
Bitcoin enthusiasts are rooting for the $100,000 mark as the next stop for this historic rally. And that day isn’t too far. Let’s look at the factors fueling Bitcoin’s rapid growth.
Bitcoin’s price is influenced by several factors, including, the market’s demand, media and news, and regulatory changes. This year, a lot has happened in favor of Bitcoin which has caused its price to skyrocket in a very short span of time. Let’s look at the top 3 factors that have contributed significantly to Bitcoin’s price hike.
The outcome of the U.S. election has significantly influenced Bitcoin’s price. Donald Trump, the newly elected President, pledged during his campaign to make the U.S. the “crypto capital of the planet”. He also promised to create a Bitcoin “strategic reserve”. He even accepted cryptocurrency donations and headlined the biggest bitcoin conference of the year at Nashville.
“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,”
— Donald Trump, during his keynote speech at Bitcoin 2024 Conference
Until now, the U.S. government regularly hosts auctions to sell Bitcoin and other cryptocurrencies that have been amassed from seizing assets from financial criminals. Trump has promised to change that and make the regulatory framework crypto-friendly.
Trump’s positive attitude towards cryptocurrency has contributed significantly in spiking in Bitcoin’s price. The crypto community is hopeful that he will make America a crypto-friendly country by easing out the regulations.
Earlier in January, The Securities and Exchange Commission (SEC), approved spot Bitcoin exchange-traded funds (ETFs), backed by Wall Street. This was an important milestone that surged Bitcoin’s price significantly while making it easy for investors to put their money into digital currency.
Trump’s win fueled the inflows of ETFs, further boosting Bitcoin’s price globally. The Bitcoin ETFs recorded the largest volume of inflows on 11th and 12th November. Estimates suggest roughly $2 billion capital was drawn to Bitcoin ETF during those two days.
Among the many others, BlackRock iShares Bitcoin Trust received the most inflows, increasing its total over $40 billion since it was first launched.
The tech industry is expecting lenient regulation & tax laws under the Trump administration. The promise of a more crypto-friendly regulatory environment—firing SEC Chairman Gary Gensler, stockpiling Bitcoin for the U.S., and appointing pro-crypto regulators—signals fewer restrictions for the industry.
At the same time, proposed tax cuts, including lower capital gains rates and potential tax-free transactions for U.S.-based cryptocurrencies like Bitcoin, make crypto investing even more attractive. This powerful combination of deregulation and tax incentives is fueling investor confidence and pushing Bitcoin to record-breaking levels.
Bitcoin’s future looks brighter than ever before! With an increase in retail investors, a limited supply, and lenient regulations, it is expected to soar in the coming months.
So far, 2024 has been a remarkable year for Bitcoin. More and more institutions and nations are actively acquiring Bitcoin as a hedge against economic uncertainty, inflation, political turmoil, and local currency debasement. Microstrategy, a leading business intelligence firm, has continued to increase its Bitcoin holdings. According to Dropstab data, the company has $15.5 billion in unrealized gains.
MicroStrategy is not alone in the race. Another Japanese investment firm, Metaplanet, has accumulated 1142 Bitcoin as a hedge against the depreciating Japanese yen. In 2025, it is expected that a large number of institutions may follow suit and divert their investments into Bitcoin.
Countries are also embracing Bitcoin. Bhutan holds Bitcoin worth $1.1 billion, which is approximately a third of its GDP. Even Russia has revised their policies and legalized Bitcoin mining and crypto payments. Following their lead, China also clarified that owning cryptocurrencies is legal.
In the U.S., the idea of using Bitcoin as a strategic reserve is gaining attention, with the Department of Justice already holding 208K BTC worth $14 billion. Reports suggest the incoming Trump administration may launch a Bitcoin reserve, appoint a “crypto czar,” and integrate digital assets into national policy.
In 2025, Argentina may lead the next wave of adoption. With soaring inflation and high crypto usage, its government, inspired by El Salvador’s success, is considering Bitcoin as a strategic reserve asset. President Milei’s alignment with Bukele’s Bitcoin policies could transform Argentina’s financial system, influencing broader adoption across Latin America and beyond.
This growing global embrace signals a transformative shift as Bitcoin continues to redefine monetary systems, paving the way for its integration into national economies and institutional strategies worldwide.
The world is rapidly shifting toward a Bitcoin-powered future, with nations and institutions recognizing its value as a hedge against economic uncertainty. The day isn’t far when $1 will be equivalent to 1 Satoshi!
Now is the time to take a leap of faith and embrace the future of money. In the coming years, Bitcoin may become a standard currency worldwide. Don’t wait until it’s too late to be part of the world’s biggest financial revolution.
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