Blimey! 😲 Bitcoin, that rascal of a cryptocurrency, has been creeping closer to $106,000, like a sneaky fox eyeing a plump chicken! Earlier this Sunday, on the Bitstamp exchange, it reached a new local high of $105,976. The cheek!
After a bit of a wobble, like a jelly on a plate, the flagship cryptocurrency is now changing hands at $104,619. Not bad, eh?
As that clever clogs Teddy Fusaro, CEO of Bitwise, pointed out, Bitcoin has managed to leap over the previous local high of $105,787 on May 12. Good for it! 👏
New local high has been installed, $105,950.
Next level to watch is the all-time-high from January 20 of $109,358.
— Teddy Fusaro (@teddyfuse) May 18, 2025
Now, here’s where it gets a bit bonkers. 🤪 Apparently, this Bitcoin business happened after Treasury Secretary Scott Bessent (a right blabbermouth, some say) rejected the idea of reducing federal spending on CNN. So, fiscal stimulus is back, and that’s likely given Bitcoin a jolly good boost! 🚀
You see, the largest cryptocurrency is seen as a shield against inflation, a bit like an umbrella in a chocolate factory. And Bessent’s words hinted at the poor old greenback getting devalued. Oh dear!
“This is why the US debt was downgraded. This is why 60/40 is breaking. This is why society is damaged. Own scarce assets: BTC, gold, culture, IP, data,” said Jeff Park from Bitwise. Sounds a bit dramatic, doesn’t it? 🎭
Over the past few weeks, the cryptocurrency has been on a right tear, acting as an inflation hedge amid all the tariff-induced market hullabaloo. It’s been behaving itself properly, for once!😇
Some so-called experts reckon it could surge even higher. Robert Kiyosaki, the chap who wrote “Rich Dad Poor Dad,” predicted it could reach $250,000 this year! Imagine that! 🤯
At the moment, Bitcoin is less than 5% away from reclaiming its record high. Will it do it? Only time will tell, my dears! 🕰️
And get this! Earlier today, according to those nosey parkers at Onchain Lens, some whale 🐳 (a very rich one, mind you) deposited 700 Bitcoins (about $72.3 million) into its account. The whale now holds nearly $470 million in two different wallets. Flipping heck! 🤑
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2025-05-19 11:50