Bitcoin Hits a Record High. Here's Why.
Ryan Lee, chief analyst at Bitget, told Coindesk that he believes Bitcoin could hit $180,000 by the end of the year. He believes the negative economic news is a driving force.
"Moody's recent downgrade of the U.S. sovereign credit rating to Aa1 is another key macro catalyst, sparking renewed interest in BTC and ETH as hedges against fiat risk. BTC's ability to hold above $103,000 amid volatility highlights the market's shift toward crypto as a strategic reserve asset," Lee said.
Related: Why Gold and Bitcoin Are the Go-To Safe Havens in 2025
Alexander S. Blume, founder and CEO of Two Prime, says it is all about supply and demand. "The OTC supply may be drying up, driving up prices," he told Coindesk. OTC, which stands for "over-the-counter," involves trading either directly or through broker-dealers rather than on a centralized exchange, according to Investopedia.
Blume continued: "This would not be reflected in exchange trading volumes or the derivatives market. If this is the case, get ready for a wild ride, as more demand is coming on board with a competitive bitcoin corporate treasury environment and, perhaps, a less elastic OTC spot market."
What makes Bitcoin valuable?
Cryptocurrency expert Mark Sgambelluri explains that Blockchain makes it so that every Bitcoin can only be held by one person at a time, making it an asset.
"Just like a Van Gogh is valuable because it is one of a kind and copies of it are worth nearly nothing, especially digital copies, each Bitcoin is intrinsically valuable because it can not be replicated, so it allows a digital asset to take on astronomical value," he wrote for Entrepreneur. "It is most similar to digital gold — gold is valuable because of its set supply and because you can transfer it. Bitcoin has a set supply and is even more easily transferred and stored."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 minutes ago
- Yahoo
MicroStrategy makes aggressive move as Trump signs landmark bill
MicroStrategy makes aggressive move as Trump signs landmark bill originally appeared on TheStreet. Michael Saylor's Strategy, earlier MicroStrategy (Nasdaq: MSTR), acquired 6,220 Bitcoin worth $739.8 million during July 14-20, the week the Donald Trump administration declared "Crypto Week" and with the signing of the GENIUS Act, finally turned it into a successful one. Strategy said it acquired 6,220 BTC at an average price of $118,940 last week. The company, which began acquiring Bitcoin in 2020, is the largest publicly traded corporate holder of Bitcoin. It now holds 607,770 coins at an average purchase price of $71,756 per BTC that are worth $72 billion at press time. Strategy sold MSTR shares worth $736.4 million, preferred STRK shares worth $0.7 million, preferred STRF shares worth $0.2 million, and preferred STRD shares worth $3.1 million during the week. The proceeds from the sale of these shares went into pursuing the Bitcoin firm's co-founder and executive chairman, Michael Saylor, already hinted at buying even more Bitcoin in an X post on July 20. The post showed the firm's accumulation of Bitcoin and the resultant surge in the value of its holdings over the years. Meanwhile, the House passed the GENIUS, CLARITY, and Anti-CBDC Acts last week, with Trump signing the first one into law on July 18. However, the U.S. finally getting its first major crypto law didn't lead to a bullish run for Bitcoin. The asset, which hit an all-time high (ATH) of $123,091.61 on July 14, was trading at $118,673.15 at press time. MicroStrategy makes aggressive move as Trump signs landmark bill first appeared on TheStreet on Jul 21, 2025 This story was originally reported by TheStreet on Jul 21, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
21 minutes ago
- Hamilton Spectator
VNBTC Gains UK FCA Certification, Enhancing Trust in Its Cloud Mining Platform for Simple and Secure Bitcoin Earnings
LONDON, July 21, 2025 (GLOBE NEWSWIRE) — Institutional investment and global interest have driven the Bitcoin price past $120,000. Simultaneously, cloud mining is evolving into a powerful, accessible way to earn cryptocurrency. VNBTC , a cloud mining platform headquartered in the UK, is proud to announce that it has officially received regulatory certification from the UK's Financial Conduct Authority (FCA). This significant milestone marks VNBTC as one of the few legally recognized cloud mining platforms in the global crypto space — reinforcing its commitment to compliance, investor protection, and long-term sustainability. With its new FCA status, VNBTC now offers crypto investors worldwide a higher level of trust and transparency. The certification enables VNBTC to operate under strict regulatory guidelines, adding a legal layer of security to its AI-optimized cloud mining services. Users can now confidently access Bitcoin, Dogecoin, and Litecoin mining contracts knowing they are engaging with a fully licensed and regulated service provider. In 2025, VNBTC has emerged as a standout platform, offering tiered cloud-mining contracts that deliver impressive earning potential, even for beginners. The platform's signature feature? Clearly defined daily ROI and transparent contract mechanics, making it easy to estimate your returns before you invest. Due to these plan structures, the highest-paying Bitcoin contract offers $17,500 ROI. VNBTC credits earnings automatically every 24 hours to your dashboard, so users see their profits grow in real time and can withdraw or reinvest at any time. With millions of investors already using the platform's AI-optimized contracts, many are seeing daily income ranging from modest starter-plan payouts to five-figure profit cycles. VNBTC is making cryptocurrency mining easier, offering multiple ways to earn passively without needing to afford expensive mining rigs. With added benefits like the affiliate program offering 3% and 1.8% referral commission. Now might be the best time to join the future of mining that is globally trusted by millions. Media Contact: James Carter Marketing Specialist A photo accompanying this announcement is available at
Bloomberg
37 minutes ago
- Bloomberg
Michael Saylor's Strategy Owns 3% of Bitcoin in Circulation After Latest Purchase
Michael Saylor's Strategy now owns more than 3% of all the Bitcoin ever minted following the crypto treasury company's latest purchase of the original cryptocurrency. The former MicroStrategy Inc. acquired 6,220 Bitcoin for $739.8 million during the seven days ended July 20, according to a filing Monday with the US Securities and Exchange Commission. This raised the Tysons Corner, Virginia-based firm's holdings to 607,770 Bitcoin — which is about 3.05% of the roughly 19.9 million token issued. The stack is worth about $72 billion.
