Bitcoin is once again stealing the spotlight, smashing through fresh all-time highs this week and cruising past the USD120,000 mark, doubling in value since July 2024. It did take a quick nap overnight (classic bitcoin, never a dull moment) but sentiment remains strong heading into what could be a pivotal week for crypto.
Every bitcoin cycle brings a familiar cast – the die-hard believers, the wide-eyed speculators, and the skeptics. Who else? Each rally reignites talk of “mainstream adoption” with reactions ranging from hopeful to downright hysterical.
This time around, though, there is more real traction. Corporate treasuries are adding bitcoin to their balance sheets, spot ETFs are raking in record inflows and US lawmakers are actually (finally!) making real progress on crypto legislation. Clearer rules could mean less hand-wringing and more institutional adoption.
I have been covering crypto for a number of years now, back when you still had to explain what a “wallet” was, and most people thought Satoshi was a sushi chef. Five years ago, my team started formally including crypto in our portfolios and discussing it with select investors.
Even today, I occasionally meet investment professionals who do not understand what the game is all about, how it works, or why it even matters in a world shaped by monetary and geopolitical uncertainty. Some still hit me with the classic, “It is not backed by anything so it does not make sense!”
These days, we maintain crypto exposure through specialist funds and ETFs within our models. The world has seen bitcoin go from fringe experiment to serious financial asset and this time, it is not just another hype cycle.