Bitcoin Hits Historic High: Years of Momentum Unleashed

Bitcoin Hits Historic High: Years of Momentum Unleashed

🚀Bitcoin has reached a monumental new all-time high, almost approaching $90k! This may have surprised some, but it’s hardly shocking to anyone who’s been paying attention. In fact, this moment has been building for years.

11 Nov, 2024
Dina Sam'an
Dina Sam'an
Author

🚀Bitcoin has reached a monumental new all-time high, almost approaching $90k! This may have surprised some, but it’s hardly shocking to anyone who’s been paying attention. In fact, this moment has been building for years.

Let’s start with the political/regulatory environment: the recent election results in the U.S. are a significant factor behind crypto’s current price surge. The previous administration took a particularly hostile stance toward crypto, driving companies to relocate to friendlier jurisdictions. I’ve written about “Operation Chokepoint 2.0” and its impact on crypto this year. But now, with a new administration campaigning on making the U.S. a global crypto hub, things are shifting. President-elect Trump’s promises to create a strategic Bitcoin reserve, attract crypto innovation, and even replace SEC Chair Gary Gensler are all creating renewed optimism for the industry. This regulatory clarity is exactly what many investors have been waiting for.

Next, let’s talk numbers. The recent introduction of Bitcoin ETFs, led by major players like BlackRock, has fueled a flood of capital into the market. BlackRock’s Bitcoin ETF has become the most successful product in Wall Street’s history. In less than 10 months, it has amassed a staggering $33.2 billion in assets, even surpassing its gold ETF! Yes, Bitcoin is officially “digital gold” in the eyes of Wall Street. ETFs now hold over 1 million Bitcoin, a significant chunk of the total supply cap of 21 million. This demand, backed by institutional credibility, is a game-changer for Bitcoin’s mainstream acceptance.

This cycle is evolving differently, with institutional capital pouring into Bitcoin, transforming it from a speculative asset to a core holding for major investors. With strong fundamentals, accelerating adoption, a fixed supply cap, and a friendlier regulatory climate, Bitcoin is solidifying its role in global finance, offering those who understand its potential a unique opportunity to benefit from this once-in-a-generation shift.

Share this article:
Founders' Blog

Invest in the future of finance today with CoinMENA

Related Articles