On Friday (December 13), Bitcoin encountered short resistance near $100,000. The value of the crypto wallet of US President-elect Donald Trump rose to $14.57 million, and the recent activity was unusually active. The scale of BlackRock Bitcoin ETF surpassed the gold fund, forming a key golden cross. Australian pension fund AMP announced that it would invest $27 million in Bitcoin.
Trump's crypto portfolio expands, wallet holdings worth $12.77 million
With less than 40 days left until Trump is sworn in as US President, recent data shows that he holds nearly $14.57 million in crypto assets.
Trump entered the presidency with a massive cryptocurrency portfolio, bringing a financial twist to the Oval Office. Not to be outdone, his running mate, JD Vance, is holding between $250,000 and $500,000 in Bitcoin, according to federal filings. This administration is on track to be the most cryptocurrency-friendly in history, setting a precedent. Trump's wallet is currently worth $12.77 million, and has been very active recently.
The most valuable asset in Trump's cryptocurrency collection is TROG token, a meme coin that has gained popularity due to hot discussions on social platforms. He holds 210.34 billion of them, worth $6.61 million. After TROG, Ethereum ranks second in his portfolio, with Trump owning more than 495 of them, worth $1.92 million.
Additionally, his assets include more than 478 wrapped ether (WETH), valued at $1.85 million.
Trump also holds the political meme coin TRUMP, which was airdropped to him, and this digital asset is currently worth $1.05 million. Trump holds $523,900 worth of GUA tokens and $138,860 worth of USDC stablecoins. Trump has also added some digital art elements to his portfolio, and he also owns 107 non-fungible tokens (NFTs) covering 16 different series.
Never before has a president held millions in cryptocurrency while in office, let alone a vice president with a significant Bitcoin investment. This unprecedented combination of political power and blockchain wealth is likely to spark debate about the legitimacy and future regulation of digital currencies, offering a glimpse into how emerging technologies are shaping the U.S. political and economic arena.
BlackRock's Bitcoin ETF surpasses gold fund in size
Ki Young Ju, founder of cryptocurrency analysis company CryptoQuant, posted that the scale of Wall Street asset management giant BlackRock's Bitcoin spot ETF has surpassed the gold ETF it holds.
He wrote: "The asset management scale of BlackRock Bitcoin Spot ETF has exceeded that of gold ETF, and billions of dollars of funds flow into the Bitcoin market every week. In a market mixed with stupid money, smart money already knows who the winners are. The current market value of gold is 17 trillion US dollars, while the market value of Bitcoin is only 2 trillion US dollars. Please stand on the right side of history."
Sygnum Bank, the world's first digital asset bank, recently stated in its report (Cryptocurrency Market Outlook) that institutional adoption of Bitcoin has had a multiplier effect on the price of Bitcoin. Currently, every $1 billion in net inflows into spot ETFs will push Bitcoin up by about 3% to 6%.
The bank predicts that in 2025, large institutional investors, including sovereign wealth funds and pension funds, will accelerate their purchases of Bitcoin, and the price of Bitcoin may soar further. The report said: "With the progress of US regulation and the ability of Bitcoin to be regarded as a central bank reserve asset, the pace of institutional adoption of Bitcoin will continue to accelerate in 2025."
Australian pension fund AMP enters the market
CoinTelegraph reported that Australian pension fund AMP revealed that it has invested approximately US$27 million in Bitcoin, becoming the first large Australian pension fund to accept digital assets.
According to Australian media, the fund's assets under management (AUM) are approximately US$57 billion. The allocation of Bitcoin is quite conservative, accounting for 0.05% of the total assets managed by the fund.
The pension fund reportedly purchased between $60,000 and $70,000 worth of Bitcoin as a diversification investment and to take advantage of Bitcoin’s upward trajectory, which saw a historic price rally following Trump’s victory in the November 5 election.
Despite the rise in Bitcoin prices and the $100,000 milestone, other Australian superannuation funds have shown no signs of following AMP’s footsteps and continue to view the emerging asset as too risky to adopt.
Bitcoin Technical Analysis
Bitcoin price is fluctuating around the $101,000 level, affected by stochastic negativity that has hampered the upward progress, waiting to gain positive motivation that will help propel the price to resume the bullish wave with the target of $104,060 and then $106,000 as the next positive stops.
“Hence, we will continue to forecast a bullish trend for the coming period unless it breaks down to $98,270 and remains below that level.”
“The current expected trading range is between the $99,500 support and $105,000 resistance.”
“Trend forecast is bullish.”
