Back in 2023 I was optimistic about $BTC and the crypto market for 2024-2025. Now, I'm still bullish. Here’s why:
- Bitcoin in the 2024 Election
Biden has recently started engaging with the crypto community, signaling a policy shift. Meanwhile, Trump remains pro-crypto, promising to free the Silk Road creator if elected. This election could significantly boost $BTC and the #crypto adoption.
- New Crypto Regulations
The FIT21 bill passed the House with strong support, indicating momentum for crypto regulation. The CBDC Anti-Surveillance State Act, preventing federal issuance of CBDCs, also passed. A joint effort is underway to repeal SAB121, with Biden’s decision pending.
- El Salvador’s Bitcoin Push
El Salvador buys one Bitcoin daily and offers citizenship for Bitcoin donations. The country uses geothermal energy for mining and has met with leaders from Argentina and ARK Invest to discuss Bitcoin.
- State-Level Crypto Moves
Oklahoma has legalized Bitcoin self-custody, transactions, and home-based crypto mining, advancing state-level crypto adoption.
- Spot ETF Milestones
The U.S. Spot Bitcoin ETF launched, accumulating 852,000 BTC in 100 days. The Spot Ethereum ETF’s 19b filing was approved, marking significant progress after years of effort.
- Institutional Adoption
About 700 financial firms and institutions hold ETF shares, with major players like Millennium Management and Jane Street Group heavily investing. This growing institutional interest is a strong market indicator. #bitcoin #btc