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Bitcoin has exceeded all expectations and reached a new all-time high. This unprecedented event is generating enormous excitement in the crypto community and attracting new investors from all over the world.
This shows that the price of Bitcoin is on track to reach $125,000 by the end of the year, as Standard Chartered predicted in early September. However, the banking giant now predicts that institutional inflows into Bitcoin may increase even further in 2025.
In addition, our weekly summary provides you with a comprehensive overview of the key events and latest developments in the world of Bitcoin. Keep reading and acquire the knowledge necessary to make strategic decisions and get the most out of each investment.
Bitcoin reaches 100 thousand dollars, marking a new historical milestone
What began as an experimental curiosity created by someone calling himself “Satoshi Nakamoto,” has become a global phenomenon. On the night of Wednesday, December 4, 2024, Bitcoin surpassed $100,000 for the first time in its history. The bullish candle continued to mark a new all-time high at $103,900.
In fact, the $100,000 barrier at the beginning of the year was not even in the forecasts of Wall Street analysts, when the digital currency was around $44,000 and the crypto world was going through turbulence due to cases of fraud and exchange bankruptcies.
In reality, what was once considered a marginal digital currency has now become a top-tier asset, competing in market value with tech giants like Google and Amazon. This radical transformation demonstrates the growing recognition and adoption of Bitcoin as a store of value on a global scale.
Trump congratulated Bitcoiners on the $100K milestone
US President-elect Donald Trump took to his social media platform Truth Social on Thursday morning to applaud the move and tell Cryptocurrency enthusiasts they are welcome to the rally following his election victory last month. past.
The magnate offered a short message of hope and victory to his followers. «Congratulations bitcoiners! $100,000! “Together we will make America great again.”
Incidentally, the token’s latest surge came on Wednesday evening after Trump picked Paul Atkins to chair the Securities and Exchange Commission.
Marathon raises $850 million and bolsters its Bitcoin reserves
Bitcoin Mining company Marathon recently completed its $850 million 0% convertible bond offering, the proceeds of which will go toward additional Bitcoin purchases.
Indeed, Marathon has cemented its position as one of the largest institutional Bitcoin accumulators by acquiring an additional 703 BTC in November. With these purchases, the company has raised its total holdings to 34,794 BTC.
This aggressive investment strategy, funded in part by the recent issuance of convertible bonds, positions Marathon as a key player in the cryptocurrency market and demonstrates its confidence in the future of Bitcoin.
Worksport adopts Bitcoin and XRP for its corporate reserves
Heavy vehicle accessory manufacturing company Worksport has adopted Bitcoin and XRP in its financial strategy. This forward-thinking decision reflects the company’s commitment to innovation and long-term growth.
Indeed, according to the statement, Worksport said it plans to allocate up to 10% of its operating cash, around $5 million, to digital assets.
According to CEO Steven Rossi: “Our upcoming adoption of Bitcoin (BTC) and Ripple (XRP) reflects our commitment to staying ahead of market trends while prioritizing operational efficiency and shareholder value.” .
The plan also includes accepting cryptocurrency payments through its e-commerce platform. Which promises to reduce transaction costs by up to 37%.
Bitcoin will displace gold in the next decade, according to Bernstein analyst
Bernstein analyst Gautam Chhugani believes Bitcoin could eventually replace gold’s role: “We expect Bitcoin to emerge as the leading store of value asset of the new era, eventually replacing gold over the next decade. And becoming a permanent part of institutional multi-asset allocation and a standard for corporate treasury management.
Notably, the comments come after Bitcoin hit $100,000 for the first time, adding to its massive 2024 gains. Incidentally, according to Chhugani, this is just one of Bitcoin’s first rallies on its way to displacing the gold. It states that by the end of 2025, the price of the currency could conquer the $200,000 barrier.
By the way, Chhugani is not the only analyst who believes that Bitcoin can play a larger role in the economy. DA Davidson’s Gil Luria wrote that he believes “Bitcoin’s main current application is as a store of value, a low-correlation, appreciating asset that replaces gold as a hedge against a decline in economic stability.”
In closing, so that you don’t miss any details about what is happening in the world, expand on these and other news through our main page.
I leave with this quote from Michael Saylor: “As the sun sets gold, the Bitcoin star continues to rise.”
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