It’s always great getting up to good news – here at last Bitcoin has finally hit $100k.
Why? Well it’s all to do with Trump’s victory and a determination to embrace technology and the transhumanism agenda. Elon Musk is the King of this Brave New World.
This important psychological milestone was reached hours after Trump said he would nominate Paul Atkins, former SEC commissioner, to run the Wall Street regulator. A former SEC commissioner under George W. Bush, Mr Atkins has frequently made the case against too much market regulation and has been a vocal cryptocurrency advocate.
For crypto buffs this is a big leg up from Gary Gensler. In fact it’s a complete turn around.
All the SEC cases against Coinbase, Kraken, Ripple amongst others will now disappear. According to the Blockchain Association the SEC initiated 104 lawsuits against industry firms between 2021 and 2023.
Furthermore Federal Reserve Chair Jerome H. Powell also compared Bitcoin to gold yesterday, giving it another boost of authenticity within the US government and economy.
Ever since Trump’s landslide those in the crypto sphere have been waiting for this day. Is the moment it reaches the wider public will we develop FOMO?
Of course the mainstream media still do not understand the technology they just perceive it as speculation. Wild speculation at that. However, the tide is turning and recognition is growing that Bitcoin is not going to $0 and that it’s based on computational power.
Now, I’m not a BTC maximalist but it has by far and away the biggest market cap passed $2tn and it has the most cache on the street. It is the OMG and will continue to be so. The value of a single BTC is now a barometer of optimism – and most of us here have been through some significant slumps and held strong with diamond hands.
Back in 2021 Trump allegedly called Bitcoin a “scam” but advisors have obviously convinced him of the cause. Which will turn some people off no doubt. However, the industry has 4 years to MAGA by widely adopting crypto.
Just since Trump’s election Bitcoin’s price has rocketed by over 40%, double where it began the year at.
I have tried to be a positive voice for Bitcoin, but I used to get poo-pooed, I think this is now a game changer. The price action is simply a reflection of that. A long way from 2 pizzas that’s for sure!
However, I’m also a believer in choice. I don’t want to see a digital prison being built and I’m all for using cash for small purchases from local business. Yet, you can’t fight against the tide – young people overwhelmingly are using their mobile phones or even watches for payments.
You got to feel sorry for the man from Wales who accidentally threw away a hard drive with over 100m of crypto.
Well, the question is where to next? It felt like it was trading within a range between $90-99 for ages before it hit this milestone. Will it dip below again or will we trade water above $100k. Not only are big companies like Blackrock, Fidelity and Grayscale taking Bitcoin seriously as an asset class now it is the President of a major country.
Feels like a paradigm shift to me.
You overlooked Michael J. Saylor's new plan to buy $42 billion worth of Bitcoin over the next three years. This will be just about all the BTC being mined over that period at today's price. This should work to keep pressure on the price compared to previous halving cycles.
Thanks for your comment, yes lots of exciting things to happen in the crypto space. I hear Putin has said it's the future.
Things seem to be exploding in Crypto land. 😎👍