BTC Bitcoin Cryptocurrency Betting
Bitcoin is the cryptocurrency that started it all. There are dozens of other Cryptocurrencies you can use to deposit at BookMaker and hundreds more on the periphery, but Bitcoin is the most well-known of the bunch, and the only one your aunt Ethel and uncle Fred know. The coin that dominates the crypto space surged past $60,000 in March 2021 and might be poised for an even bigger run ahead of the holidays.
Monday, July 21, 2025 News Update
Bitcoin saw modest gains early Monday, while several other cryptocurrencies outpaced it—benefiting from a wave of momentum sparked by recent legislative developments in Washington. Investors appear to be rotating into digital assets that may stand to gain more directly from the evolving regulatory landscape. Bitcoin’s price rose 1% over the past 24 hours, trading near $119,194. Last week, the world’s largest cryptocurrency surged to a record high of $123,166 amid enthusiasm during what some dubbed “Crypto Week,” as several crypto-focused bills advanced through Congress.
In contrast to Bitcoin’s modest climb, major altcoins were on the move. Ether jumped 3.5%, XRP gained 3.1%, Solana surged nearly 7%, and Dogecoin—one of the more popular memecoins—was up almost 2%.
The rally comes on the heels of new legislation signed into law Friday by President Donald Trump. The GENIUS Act establishes federal oversight of stablecoins—digital tokens pegged to the value of real-world currencies like the U.S. dollar. The law mandates that stablecoin issuers hold reserves on a one-to-one basis in U.S. dollars or Treasury securities, and it explicitly bans stablecoins that pay interest.
“The GENIUS Act’s ban on yield-bearing stablecoins is driving institutional interest into Ethereum, which largely provides the network for stablecoins,” wrote Deutsche Bank analyst Marion Laboure in a research note on Monday.
Yet, many analysts say the Clarity Act may have even broader implications. This bill seeks to resolve the long-standing question of whether cryptocurrencies should be classified as commodities or securities—and which federal agency would regulate them. Although the House approved it last Thursday, the bill still needs to pass the Senate.
The future trajectory of Bitcoin could hinge on how swiftly the Clarity Act progresses through the Senate, particularly ahead of the August congressional recess. Another potential catalyst looms Tuesday, when a presidential working group is expected to issue new crypto policy recommendations. Among the possibilities: a proposal to create a strategic reserve of Bitcoin.
In other news, Trump Media is pushing forward with its bold pivot into cryptocurrency, deepening its financial ties to Bitcoin as the regulatory landscape shifts in its favor. “We’re rigorously implementing our publicly announced strategy and fulfilling our bitcoin treasury plan,” said Trump Media CEO and President Devin Nunes in a press release. “These assets help ensure our company’s financial freedom, help protect us against discrimination by financial institutions, and will create synergies with the utility token we’re planning to introduce across the Truth Social ecosphere.” The company revealed it has also committed an additional $300 million to an “options acquisition strategy for bitcoin-related securities,” reinforcing its aggressive approach to building a digital asset portfolio.
This escalation in crypto investment comes as Washington, D.C. moves toward establishing clearer and more favorable regulations for the industry. On Friday, President Donald Trump signed into law the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), the first federal framework for stablecoins backed by the U.S. dollar. The bill offers a sweeping green light for dollar-backed digital assets, a move expected to accelerate mainstream adoption.
Already, Trump’s influence in the space is growing. World Liberty Financial, a new crypto startup backed by the president and his sons, has launched USD1, a U.S. dollar-pegged stablecoin developed in partnership with crypto custody giant BitGo. The legislative and corporate activity is part of a broader strategy Trump Media unveiled in May to raise $2.5 billion for a Bitcoin treasury. The company is using a mix of public equity and debt issuance to rapidly accumulate Bitcoin—emulating the strategy pioneered by Michael Saylor’s firm, MicroStrategy (now called Strategy).
Beginning in 2020, Saylor transformed his business software company into a crypto titan by aggressively converting its balance sheet into Bitcoin. The playbook has since been adopted by dozens of firms, some with links to current or former White House advisors, while others have opted to build reserves in assets like Ethereum.
While such moves have occasionally led to dramatic stock surges, they’ve also drawn intense scrutiny. Skeptics—especially short sellers—warn that the model’s sustainability remains uncertain. Trump Media itself has experienced this volatility. Since announcing its Bitcoin treasury initiative in late May, the company’s stock has fallen 25%, and it is down 45% since the beginning of the year.
Bitcoin Weekly Price Per CoinMarketCap
| WEEK |
BITCOIN PRICE IN USD |
| July 21, 2025 |
118,976.22 |
| July 14, 2025 |
121,973.95 |
| July 7, 2025 |
108,160.58 |
| June 30, 2025 |
107,519.45 |
| June 23, 2025 |
101,566.23 |
| June 16, 2025 |
107,069.44 |
| June 9, 2025 |
107,543.46 |
| June 2, 2025 |
104,186.63 |
| May 26, 2025 |
109,844.10 |
| May 19, 2025 |
103,843.75 |
| May 12, 2025 |
104,151.94 |
| May 5, 2025 |
94,148.60 |
| April 28, 2025 |
94,635.92 |
| April 21, 2025 |
88,208.60 |
| April 14, 2025 |
85,623.93 |
| April 7, 2025 |
78,197.07 |
| March 31, 2025 |
83,428.18 |
| March 24, 2025 |
88,043.32 |
| March 17, 2025 |
82,748.61 |
| March 10, 2025 |
80,483.17 |
| March 3, 2025 |
90,833.10 |
| February 24, 2025 |
94,569.34 |
| February 17, 2025 |
96,701.18 |
| February 10, 2025 |
97,403.56 |
| February 3, 2025 |
96,864.15 |
| January 27, 2025 |
101,643.23 |
| January 20, 2025 |
106,822.51 |
| January 13, 2025 |
92,117.84 |
| January 6, 2025 |
101,692.99 |
Monday, July 14, 2025 News Update
On Monday, as U.S. lawmakers prepare to perhaps enact regulatory amendments that might boost institutional demand, Bitcoin surged beyond $120,000 to a new record high. According to Coin Metrics statistics, the biggest cryptocurrency by market capitalization was trading at $121,855 at 9:17 a.m. ET. It hit $123,000 earlier in the session. With increased inflows into Bitcoin ETFs, the rally has seen Bitcoin hit fresh highs. With $1.18 billion in inflows on Thursday, Bitcoin ETFs saw their largest day of inflows in 2025.
“We believe that Bitcoin’s surge is driven by longer-term institutional buyers and this will propel it to $125k in the next month or two,” Jeff Mei, chief operating officer at cryptocurrency exchange BTSE, said in a statement sent to CNBC. “Trump’s trade disputes with the likes of the EU, Mexico, and other trading partners could cause dips in the week ahead, but it’s likely that Bitcoin’s institutional buyers are discounting this risk and maintaining their positions that Bitcoin will still appreciate in the long run.”
As corporate treasuries ramp up their bitcoin purchases and the US Congress gets closer to approving new crypto legislation, investors have been expecting Bitcoin to reach new heights this year. In what has been termed "Crypto Week," the U.S. House of Representatives will start discussing a number of cryptocurrency proposals on Monday. The purpose of the proposed legislation is to give the digital asset sector a more transparent regulatory environment. U.S. President Donald Trump, who has positioned himself as a pro-crypto president and is involved in multiple crypto projects, supports the policy, which the sector has long advocated.
The Genius Act, which could create legal safeguards for U.S. dollar-pegged stablecoins and open the door for private entities to produce digital dollars, is one of the most important measures now being considered.
“Long-term holders are locking up supply, while global policy clarity — especially around stablecoins and crypto legislation — has boosted investor confidence and capital inflows,” Xu Han, director of the Liquid Fund at HashKey Capital, said in a statement to CNBC.
Markus Thielen, CEO of 10x Research, stated on CNBC's "Access Middle East" that during the past six to eight weeks, institutional and corporate investors have bought $15 billion worth of Bitcoin ETFs. "On the other hand, it seems that retail investors did not participate in the most recent rally," he continued.
Thielen disclosed that 10x Research has set a year-end Bitcoin target range of $140,000 to $160,000; however, the biggest danger to this is the U.S. Federal Reserve's continued hawkish stance and additional interest rate hikes brought on by tariffs.
Monday, July 7, 2025 News Update
The “Big Beautiful Bill” was signed into law recently in the United States, as President Donald Trump touted the many different programs that are designed to power the growth of the United States going forward. The bill will also add an expected $3 trillion of debt and the debt ceiling will be raised by $5 trillion. The question is what will be the effects of the bill on the price of Bitcoin. James Toledano, chief operating officer at Unity Wallet, said in emailed comments that “The ‘big beautiful bill’s’ massive fiscal expansion may weaken the dollar and stoke inflation, potentially boosting bitcoin’s 'digital gold’ appeal.", Toledano is basically saying the same thing that Elon Musk said recently, as he said that the U.S. dollar “will be worth nothing if the U.S. doesn’t do something about its national debt.”
The Big Beautiful Bill is “one big red flag for fiscal sustainability and one big green flag for risk assets, especially crypto,” according to bitcoin and crypto investor Lark Davis. He said in an emailed note that "this is exactly why we buy bitcoin." He went on to add that “Bitcoin has historically delivered double-digit gains in the weeks after big spending bills. Bitcoin jumped 38% when Trump signed a major spending bill in late 2020. If Bitcoin’s price action were to repeat again, this time it would send the price to $150,000.”
Elon Musk, who was touting all of the government spending reduction while heading DOGE, was very upset with the bill that passed last week and said that he is starting his own political party called the “America Party." Musk had a falling out with Trump over the increase in the U.S. debt ceiling in his hallmark bill. Musk's stern warnings about the soaring $37 trillion U.S. debt pile were a major component of his campaign to re-elect Trump last year. Bitcoin and cryptocurrency analysts are now forecasting a bitcoin price explosion due to the U.S.'s "massive fiscal expansion," as the price of bitcoin is poised to surpass "trillions and trillions."
“Nothing stops this train,” Lyn Alden, a financial commentator and founder of Lyn Alden Investment Strategy, said during this year’s bitcoin conference in Las Vegas, to describe the U.S. deficit that added almost $2 trillion to the U.S. debt last year. Investors are worried about where things go from here. David Friedberg, a host of the All In Podcast said that "We are in a fiscal emergency in this country and we’re not addressing it." After massive government expenditure during the COVID-19 pandemic and lockdowns, the United States' debt has risen dramatically in recent years. Interest rates were quickly raised to control inflation, which further increased the expense of servicing the country's $37 trillion debt.
Monday, June 30, 2025 News Update
This year already appears to be a big year for cryptocurrency, with Bitcoin setting a new record, a US president who is promoting the business and whose family is actively involved in it, and important laws that are anticipated to be passed by Congress. Looking past the upbeat headlines and the Bitcoin bounce, however, reveals a quite different picture. With over $300 billion in market value lost so far this year, the majority of the so-called altcoins that were previously hailed as rivals to the original cryptoasset are on the fall.
A broader malaise is shown by the sea of red, which is making some sectors of the industry face existential issues. Early cryptocurrency advocates pictured a world with a wide range of use cases and a multitude of coins vying for investor capital. The dominance of Bitcoin, however, is giving way to forecasts that vast portions of the industry will turn into a digital wasteland. “I think they’re just going to die, frankly,” Nick Philpott, co-founder of Zodia Markets, said of altcoins to the media, “They’ll just wither away. Technically, a lot of this stuff will just sit there and gather dust in perpetuity.”
According to CoinMarketCap, Bitcoin's proportion of the overall market value of cryptoassets has increased by nine percentage points this year to 64%, the highest level since January 2021. Nonfungible tokens were just beginning to gain traction, crypto lending was booming with little protections, and the cryptocurrency market was essentially uncontrolled at the time.
Altcoins, the umbrella name for all digital assets other than Bitcoin and stablecoins, are in stark contrast to this. After more than doubling in the wake of Donald Trump's election victory on November 5, a MarketVector index that tracks the bottom half of the top 100 digital assets has since given up all of those gains and is down almost 50% in 2025. Other segments of the market are falling behind more and more as Bitcoin absorbs the majority of money flows from exchange-traded fund participants. The second-largest cryptocurrency, Ether, has seen a slight recovery driven by inflows to spot ETFs that invest in the token, although it is still almost 50% off its peak. “Historically, Bitcoin’s moved and then that’s passed down into altcoins,” said Jake Ostrovskis, an OTC trader at Wintermute in the media, “We’ve not really seen that yet this cycle.”
Mass extinction disasters are nothing new to cryptocurrency. Hundreds of initiatives failed as a result of the 2022 market crisis, which was dotted by the collapse of Sam Bankman-Fried's FTX exchange and the algorithmic stablecoin TerraUSD. Relegated to the position of "ghost chains" in the cryptocurrency world, thousands of currencies remain on their blockchains with little to no activity. Because stablecoins minimize volatility, they seem to be the only tokens with a genuine chance of becoming means-of-payment. This time, however, the cryptocurrency market is becoming more controlled and pushed by institutions.
The market value of stablecoins has increased by $47 billion in the last year alone, and some of the biggest banks in the world are getting involved. This month, the Wall Street Journal revealed that Amazon.com Inc. is researching a possible stablecoin. As a result, cryptocurrency initiatives are under pressure to improve their standing and attract more investors. “I’ve talked to a couple of projects that have been thinking about merging foundations, putting it up for governance, saying, ‘Hey, we can now be governed under this other authority’ — that authority being another altcoin community,” said Kanyi Maqubela, managing partner at venture capital firm Kindred Ventures.
“There’s certainly a subset of the market doing incredibly well — generally companies with real businesses, real revenues, and those revenues are being used to buy back tokens,” said Jeff Dorman, chief investment officer of digital asset investment firm Arca.
There’s also the prospect of more favorable regulations. The potential for US Securities and Exchange Commission approval of ETFs backed by coins like Solana are stirring hopes of wider adoption. Another possible catalyst is the Digital Asset Market Clarity (CLARITY) Act, informally referred to as crypto’s market structure bill. The CLARITY Act aims to provide a comprehensive regulatory framework, including delineating responsibilities between the Commodity Futures Trading Commission and the SEC.
The shifting tides are also reflected in corporate behavior. Modeled on Michael Saylor’s Strategy, a new breed of Bitcoin accumulators has emerged. In April, a special-purpose acquisition company affiliated with Cantor Fitzgerald LP partnered with Tether Holdings SA and SoftBank to launch Twenty One Capital Inc., seeded with nearly $4 billion in Bitcoin. The Trump family, which is also getting involved in Bitcoin mining, has raised $2.3 billion via Trump Media & Technology Group Corp. to create a Bitcoin treasury.
While similar vehicles have been set up recently to accumulate smaller tokens like Ether, Solana and BNB, they are much smaller. Not all altcoins are floundering. Tokens like Maker and Hyperliquid that are linked to thriving decentralized-finance protocols have notched big gains this year. “The Clarity Act has the potential to do for altcoins what ETFs did for Bitcoin and Ethereum: provide the regulatory legitimacy that unlocks real institutional capital,” said Ira Auerbach, a senior executive at Offchain Labs to the media. He thinks most altcoins are in a sort of twilight zone, supported by great promises and little else. He compares Bitcoin to gold and Ether to copper, noting that the former has a capped final supply and the latter's blockchain underpins most of the functioning of crypto. “I think a lot of them are going to whittle down to zero because they were driven by speculation without that mimetic value like Bitcoin, and they tried to be utilitarian without achieving any real scale,” he said.
Monday, June 23, 2025 News Update
The 60-day realized volatility of Bitcoin, which gauges how sharply its price fluctuates, had fallen to about 27–28% as of June 23. This is less than the S&P 500 (30%), the Nasdaq 100 (35%), and even the high-flying "Magnificent 7" tech companies (40%). Due to the rising Middle East crisis, particularly following the US bombing of Iran, Bitcoin's minimal volatility stands out. In response, the price of Bitcoin dropped 6% over the weekend to below $100,000 but it bounced back to get over the $100,000 mark on Monday. Such geopolitical shocks frequently resulted in considerably more significant and erratic price movements in earlier cycles. In particular, Bitcoin's 60–65% realized volatility during the start of the conflict between Russia and Ukraine in February 2022 was far higher than that of US stocks. However, Bitcoin's volatility was comparatively mild this time, indicating that the majority of traders and investors did not respond in a panic and that the cryptocurrency is maturing as an asset class.
According to a recent analysis by Glassnode experts, the increase of long-term holders has significantly stabilized Bitcoin in recent weeks. “Over 30% of Bitcoin’s circulating supply is now held by just 216 centralized entities — including ETFs, exchanges, custodians, and corporate treasuries,” they said in a note, adding that such Bitcoin is becoming a “maturing asset class.”
As of June 23, the total amount of Bitcoin held by long-term holders had risen gradually over the past few years to a record high of 14.53 million (30-day average), or about 70% of the maximum supply of 21 million. Because institutional demand is increasing and long-term holders are removing supply from circulation, the price of bitcoin has been steadily rising over the years.
Because of central bank money creation and robust institutional support, BitMEX co-founder Arthur Hayes and OSL chief commercial officer Eugene Cheung believe that the price of Bitcoin will continue to rise above $100,000 in the future. By the end of 2025, some analysts even estimate that Bitcoin will surpass $150,000.
In other Bitcoin news, Michael Saylor's Strategy doubled back on his long-term prediction that the price of Bitcoin will reach $21 million in 21 years, and last week he purchased an additional 245 Bitcoin. According to CoinGecko data, Bitcoin fell from over $108,900 on June 16 to an intraweek low of little under $99,000, while the cost of Strategy's most recent Bitcoin harvest averaged $105,856 per coin.
Due to its latest acquisitions, which included a $1 billion Bitcoin purchase, the corporation now owns 592,345 BTC, which was purchased for around $41.9 billion at an average price of $70,681 per coin. One of Strategy's smallest purchases in recent months is the most recent acquisition. It is the smallest since the company paid $10.7 million for 130 Bitcoin in March. Similar to the March deal, last week's acquisition occurred during a price decline, which led some analysts to wonder why the business did not purchase more at a discount. Saylor's Bitcoin accumulation attitude and dedication to "buying the top forever" are in line with Strategy's strategy of purchasing larger quantities at greater prices.
Saylor promised in late 2024 to continue purchasing Bitcoin at its highest price regardless of how high it rose. Strategy's Bitcoin yield, which shows the percentage increase in the value of its BTC wealth over a given time period, has remained stable after its most recent purchases. After the additional acquisitions, Strategy's year-to-date Bitcoin yield was 19.2%, which was only 0.01% more than the yield from the $1 billion Bitcoin buy that was previously reported on June 16. With the recent spike in Bitcoin yields, Strategy is getting closer to its YTD yield target of 25% by the end of 2025. On May 1, the corporation raised its yield, which had previously been set at a lower 15%.
Saylor increased his long-term price projection on Saturday, predicting that the cryptocurrency will reach $21 million in 21 years, just before Strategy made its latest announcement about buying more Bitcoin.
Monday, June 16, 2025 News Update
Bitcoin continues to be a popular investment choice for people around the world and as governments rack up more debt, there is more opportunity for those who invest in cryptocurrencies. "One thing that is clear is that democracies around the world are having trouble getting deficit spending under control," Coinbase CEO Brian Armstrong said at the Coinbase Annual Summit in New York City on Thursday. "If you study history ... once you decouple currency from hard commodities, the inevitable story is they get overprinted and extended, right?" Armstrong is still hoping that the dollar remains as the main currency in the world. "I want the US to remain the reserve currency status," he added. "But if the debt situation doesn't get fixed, I do think that eventually bitcoin will have to become the reserve currency for better or worse. It's not going to be the Chinese RMB because I think they have their own debt problems." Tesla CEO Elon Musk has been talking about the problems of rising government debt for some time and he wasn’t able to do nearly as much as he would have liked in his time spent with U.S. President Donald Trump in Washington.
Although its exact structure is yet unknown, the Trump administration has taken steps to establish a strategic reserve for bitcoin. Businesses like Strategy (MSTR) and GameStop (GME) have purchased large quantities of bitcoin in order to diversify their cash holdings. Recently, Trump Media & Technology (DJT) revealed that it would raise $2.5 billion to purchase bitcoin. Although bitcoin's early volatility may have turned off investors, a few new variables are starting to emerge that will make the flagship cryptocurrency an important component of a portfolio.
Philippe Laffont of Coatue Management stated at the State of Crypto Summit in New York City last week that he initially refrained from investing in Bitcoin due to its volatility, but that has now changed. At Coinbase's State of Crypto Summit in New York City, Laffont stated, "I find it fascinating that perhaps the cost of investing in bitcoin is decreasing." "It would be fascinating if the beta shrank."
He said that Bitcoins rise and fall in price has started to become more stable. He said that the number of Bitcoin wallets that have held crypto and then sold everything has dropped. He said that suggests that investors are holding onto crypto instead of selling. He said that Bitcoin is still small in comparison to the world’s net worth as it is about $2 trillion out of $500 trillion. He expects that number to rise and still wonders why he didn’t invest in Bitcoin sooner. “Every night, I wake up at about three in the morning and I go, ‘What an idiot. Why didn’t I invest more in bitcoin?’” he said.
Laffont said his investment strategy is to look at the “obvious” over the “complicated.” Laffont said he overlooked something really simple. “That … as long as other people think it’s valuable, it gets more valuable over time – and that’s what we missed,” he said. “Now I go back and I say, this is crazy – why wouldn’t everyone have one or two or 3% or 4% of your assets in something like bitcoin that … protects you against inflation?”
Laffont said he has three types of clients, those who are hands off and let him do the investing, those who wonder “why did you miss one of the biggest trends in the world,” and the risk-averse ones who don’t want to invest in crypto. The latter “is the dying population,” Laffont said. “Every year there’s a little bit less of them. That’s the spectrum that you get from institutional investors. Hopefully, we see that distribution continue to change.” Laffont is still cautious with his investment in cryptocurrency.
“For those of you that think bitcoin is going to be important, my recommendation is never make it such a big portion of your portfolio that it becomes the driving factor of the portfolio,” he said. “You’re going to make way more money by having a smaller position that you can keep for 10 years than the big one that worries you all the time.”
Monday, June 9, 2025 News Update
With the price of Bitcoin trading close to its all-time high, Strategy has purchased $110.2 million worth of it. A US Securities and Exchange (SEC) report on Monday states that Strategy purchased 1,045 Bitcoin at an average price of $105,426 per coin. The business currently owns 582,000 Bitcoin, which it purchased for approximately $40.8 billion at an average price of nearly $70,086 per Bitcoin. The announcement comes after Michael Saylor, executive chairman and co-founder of Strategy, made a hint about the acquisition on June 8. This purchase is the eleventh week in a row that Strategy has purchased Bitcoin. As Bitcoin gets closer to its all-time high, news of the most recent acquisition comes out in the press. According to reports in May, Bitcoin reached an all-time high of over $112,000.
The most recent Bitcoin purchase comes after Strategy announced a $1 billion stock offering, quadrupling its prior $250 million funding announcement. The money raised will be used by the business to pay for corporate expenditures and further Bitcoin purchases. For $85 a share, 11.76 million shares of Strategy's 10.00% Series A Perpetual Stride Preferred equity are being issued in this equity offering. The firm anticipates raising roughly $979 million after deducting underwriting costs and other obligations.
This offering, which offers non-cumulative dividends of 10% in contrast to earlier fundraising rounds, is intended to attract institutional and professional investors looking for yield-generating opportunities. Strategy, formerly known as MicroStrategy, started amassing Bitcoin in August 2020 when it paid $250 million for 21,454 BTC. The company currently owns over 2.75% of all Bitcoin. Prior to beginning its Bitcoin accumulation, the company's market valuation was $1.2 billion in July 2020; it is now $104.6 billion. Numerous other businesses have been motivated to emulate its success story. Metaplanet, often known as "Japan's MicroStrategy," is one of them. Using the same strategy as Strategy, it recently rose to become the eighth-largest corporate Bitcoin holder in the world.
Similarly, after shifting to BTC accumulation in November 2024, France-based The Blockchain Group has added an additional 580 Bitcoin to its treasury, resulting in a 225% increase in its stock price. When the Norwegian Block Exchange, a cryptocurrency exchange based in Norway, announced earlier this month that it would purchase and keep Bitcoin, its stock shot up more than 138% in a single day.
Monday, June 2, 2025 News Update
The volatility of bitcoin is well recognized. However, after bitcoin hit a fresh high last week, more and more public firms have begun to purchase and hold the digital currency on their balance sheets. The subject of how investors ought to react is oftentimes brought up. Existing shareholders who were preoccupied with the firms' core business may have concerns, but those seeking opportunities to bet on cryptocurrency may decide to follow along.
Trump Media & Technology Group Corp. and DJT are a couple of recent instances of businesses purchasing bitcoin. DJT, the owner of Truth Social, the media platform run by President Donald Trump, announced recently that it would sell $1.5 billion worth of common stock, issue an additional $1 billion worth of convertible notes, and use the money raised to construct a bitcoin treasury. GameStop Corp., a retailer of video games, also revealed its first bitcoin purchase recently. Based on the current price of bitcoin, the corporation purchased 4,710 units of the cryptocurrency, which is worth $500.9 million.
Because the advent of bitcoin brought a range of potential and concerns, Wall Street analysts advised investors to carefully consider whether to participate in or remain invested in the companies. The assets usually maintained in corporate accounts, which oversee a pool of cash and financial assets to support business operations, control risks, and spur growth, are significantly less volatile than bitcoin.
On its records, a business usually keeps cash and cash equivalents, such as U.S. Treasurys, as well as short-term investments like commercial paper and certificates of deposit. These assets are regarded as low-risk. In order to expedite international transactions and reduce foreign exchange risks, some businesses that operate internationally may also maintain foreign currency reserves.
What justifies the inclusion of Bitcoin? Although bitcoin has primarily been trading in tandem with other risky assets for the past few years, some businesses have pointed to the cryptocurrency's potential to someday act as a store of value and an inflation hedge. Others brought up the possibility of profiting on anticipations of an increase in bitcoin prices.
According to Dow Jones Market Data, the biggest cryptocurrency increased by 56.4% over the previous 12 months to around $105,679 on Friday, up 13.1% so far this year. Last week, Bitcoin also reached a record high of $111,986. The S&P 500, by contrast, had increased by 11.6% over the previous 12 months and by 0.1% thus far this year.
Even while more businesses are purchasing bitcoin, the total is still quite tiny. According to a survey by crypto asset manager Bitwise, as of March 31, 79 publicly traded firms worldwide owned bitcoin. The World Federation of Exchanges said that as of 2022, there were 58,200 publicly traded companies worldwide.
Strategy Inc. and MSTR were among the top five firms with the largest bitcoin holdings. Businesses that own bitcoin differ from one another. Some of them, like Tesla, only had a minor amount of cryptocurrency in their books. Others, particularly Strategy, believe that the company's approach to buying bitcoin has surpassed its initial business of developing business analytics software.
What happens if a business takes Strategy's path? It raises the issue of what current investors ought to do in the event that a company in their portfolio chooses to follow the Strategy path.
Although investors primarily view MicroStrategy-like companies as bitcoin vehicles, current securities rules classify them as operating corporations since regulators often view bitcoin as a commodity rather than a security. As many businesses adopt Strategy's playbook, investors will want to be aware of how companies diversify their money.
History
In January 2009, Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto remains hotly debated to this day, but that person or group changed the world with this invention. Like many major breakthroughs, it took a while for people to grasp why Bitcoin was special. Bitcoin was created in the midst of the banking crisis, and one of its major goals was to give people another option to buy and sell products outside of a heavily regulated and centralized banking system.
The first entities to fully embrace Bitcoin were black market enterprises like Silk Road. For a while, Bitcoin became synonymous with the notorious website, but its use became more and more widespread starting in 2013.
That led to the price of Bitcoin skyrocketing and reaching incredible heights in 2017. On January 1, 2017 a single Bitcoin was worth $998, but that price rose by nearly 20-fold near the end of the year, hitting an all-time high of $19,666 on December 17, 2017. Bitcoin has left those prices in the dust in 2021, as the price of Bitcoin is approaching $50,000.
Stability
One of the major criticisms of Bitcoin is that the currency wildly fluctuates and that has proven to be true in 2021. As Bitcoin has become more accepted and understood, investors are getting a better understanding of what leads to price changes, and that has led to the Bitcoin market looking a lot like the stock market.
Security
There have been fears over how secure Bitcoin is over the years, but transactions are even more secure as they are in the traditional marketplace thanks to blockchain technology.
Whereas we are constantly hearing stories of companies having their databases hacked and identities being stolen, the nature of blockchain presents this from happening with Bitcoin.
For a transaction to occur, the sender must know their private key and digitally sign the transaction, and the signature must be verified by the network using the public key. The number of private keys makes it nearly impossible to hack into another person’s account, but there is one thing to keep in mind. You MUST keep your private key backed up somewhere or else you will lose access to your Bitcoin. Don’t make the mistake of not backing up your private key and risk losing your hard earned money.
How do I buy Bitcoin?
You can buy Bitcoin by using one of the major currency exchanges such as Coinbase or Gemini. These exchanges allow you to use a credit or debit card or bank transfer to buy Bitcoin. You can then send Bitcoin to your sportsbook account and you can withdraw Bitcoin from your sportsbook account to your digital wallet.
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