Bitcoin Surges 150% Year-Over-Year, Holding Firm at $105K
Bitcoin’s remains steady at $105,725, marking a nearly 150% increase from its $42,582 price a year ago. Despite its volatility, the digital asset continues to dominate financial discussions, buoyed by Donald Trump’s pro-Bitcoin agenda and growing institutional acceptance.
Pro-Bitcoin Billionaire Scott Bessent Confirmed as Treasury Secretary
Scott Bessent, a well-known Bitcoin advocate, has been confirmed as U.S. Treasury Secretary in a 68-29 Senate vote. His role includes balancing tax cuts, deficit control, and tariff policies while supporting crypto integration into U.S. financial policy. Bessent has also proposed extending Trump-era tax cuts and creating an External Revenue Service to streamline tariff collection.
Fed Chair Powell’s Comments Boost Bitcoin Sentiment
Bitcoin surged past $105,000 following the Federal Reserve’s decision to keep interest rates steady. Fed Chair Jerome Powell stated that banks are “perfectly able to serve crypto customers” if they manage risks properly. Powell’s comments reinforced optimism in the crypto market, helping Ethereum and Solana post gains alongside Bitcoin.
U.S. States Establish Bitcoin Reserves—Will Other Nations Follow?
Twelve U.S. states have moved to create state-level Bitcoin reserves, allowing treasuries to allocate public funds into Bitcoin. Texas is leading the charge, with Lieutenant Governor Dan Patrick naming a “Texas Bitcoin Reserve” as a top legislative priority.
On the international stage, Czech National Bank Governor Aleš Michl is considering allocating up to 5% of the country’s €140 billion reserves into Bitcoin, signaling growing global interest in digital asset reserves.
Institutional Bitcoin Adoption Grows Amid Policy Shifts
Bitcoin’s institutional adoption continues to expand, fueled by regulatory clarity and state-backed reserves. As nations and financial institutions explore Bitcoin’s role in reserve strategies, the cryptocurrency’s long-term viability as a store of value gains credibility.