Crypto-friendly US Senator Cynthia Lummis said fundraising for a Strategic Bitcoin Reserve is mainly being held back by legislative “slog.”
Gold futures reached $4,000 per ounce for the first time amid surging demand for safe-haven assets. Analysts predict Bitcoin will follow suit.
Bitcoin rallied to a new all-time high of over $126,000 on Monday, lifting share prices across crypto miners and some treasury companies.
The iShares Bitcoin Trust ETF, or IBIT, has earned BlackRock $25 million more in fees than its second-most profitable ETF and is just shy of reaching $100 billion in net assets.
Billionaire Paul Tudor Jones said US financial markets are far from bubble territory, citing fiscal imbalances as fuel for risk-on assets like Bitcoin and growth stocks.
The US national debt is nearing $38 trillion, with many more now seeing Bitcoin’s appeal as a viable alternative to the dollar.
Analysts predict further gains to $150,000 after Bitcoin surged to a record high, driven by massive ETF inflows and a weakening US dollar.
Bitcoin-stacking companies bought over 6,700 BTC last week, with the majority of the buying coming from Japanese investment firm Metaplanet.
The financial services company recommended modest crypto allocations for balanced risk and high-growth portfolios with periodic rebalancing.
Safe-haven and bearer assets are surging alongside risk-on assets like stocks, an unusual combination that signals a macroeconomic shift.