From Nasdaq: 2024-06-04 11:37:00

Bitcoin has surged by 17,355.7%, outpacing the S&P 500 Index ETF’s 223.3%. The recent Bitcoin halving has increased scarcity, historically leading to price surges. BlackRock’s iShars Bitcoin ETF hit $10 billion AUM quickly, indicating strong demand. El Salvador and Wisconsin are investing in Bitcoin, while public companies like MicroStrategy benefit from Bitcoin as a reserve asset.

Governments and companies are adopting Bitcoin as a store of value. El Salvador’s Bitcoin purchase and legalization, along with Wisconsin’s IBIT ETF investment, showcase growing acceptance. MicroStrategy’s successful adoption of Bitcoin as a reserve asset has led to share price increases. Both Trump and Biden are courting crypto voters, signaling a more favorable stance on cryptocurrency. Bitcoin is seen as a hedge against government spending, inflation, and geopolitical risks. Its increasing popularity is drawing more mainstream attention.

Bitcoin’s price is on a meteoric rise, with data suggesting it could exceed $100,000 by year-end. Its long-term potential as a hedge against inflation and government spending is becoming more apparent. With rising demand and limited supply, Bitcoin’s dominance in the digital asset market is solidifying. As more companies and governments embrace Bitcoin, its value is likely to continue soaring.

Read more at Nasdaq MarketSite: Bitcoin: The Road to $100k