The bitcoin price has surged toward its all-time highs this month, fueled by positive regulatory changes and growing institutional adoption as Donald Trump embraces bitcoin and crypto. Around this vocal support, the Trump-influenced market of crypto has surged. Today, bitcoin is once again inching towards its all-time high of just under $110,000 per coin.
Year-to-date, Bitcoin has done better than stocks. The recent surge was sparked by the expected launch of spot bitcoin exchange-traded funds (ETFs) at the start of 2024, which have already drawn billions in inflows. Crypto market has benefited from Apple’s hush-hush nod to a crypto market game-changer.
Donald Trump even announced himself as the first “crypto president.” Among other things, he pledges to undo Biden-era restrictions on crypto. He has promised to establish a bitcoin strategic reserve in addition to a crypto stockpile. In fact, now countries seem to be racing to be the next to begin holding bitcoin. This is a meaningful change as to what role this digital asset will play on the world stage.
"We're seeing steady institutional inflows, signaling growing trust from traditional players. At the same time, state-level reserve policies in the U.S. show bitcoin's role is expanding beyond just investment portfolios." - Rich Rines
U.S. state-level reserve policies demonstrate bitcoin’s role is growing beyond investment portfolios. This adoption of bitcoin by Trump has ignited a competition between nation-states and multinationals to get their hands on the crypto.
"While day-to-day prices can be noisy, the longer-term shift looks more structural. What's different this time is the market infrastructure supporting it—like regulated ETFs making it easier for institutions to get exposure, and custody services that help them hold bitcoin securely." - Rich Rines
David Marcus, former president of PayPal, has contributed to the bullish sentiment. He previously posted on X, warning people to “get ready,” as he expects big things to come soon. Marcus shone a bright light on recent regulatory advancements. These amendments recently allowed their friends at Wall Street banks to custody and sell bitcoin to their customers.
"I truly understood bitcoin in 2011-2012 and in all these years, the bull case for it has never been stronger." - David Marcus
Bitcoin and crypto in general have had a huge run the past month or so. Yet now investors are deeply concerned about a $2.5 trillion “avalanche” bearing down on the U.S. dollar.
"The surge reflects a convergence of macro liquidity trends and institutional adoption." - Rich Rines
