Bitcoin has shattered records once again, reaching unprecedented price levels.
On November 20, Bitcoin surged past $94,000 per coin, setting a new all-time high. According to CoinGlass data, by 9:15 AM on November 21, Bitcoin briefly exceeded **$95,000**—a milestone never before achieved.
Bitcoin’s 30% Rally Post-Election
Cryptocurrencies have emerged as part of the "Trump Trade." During his campaign, Donald Trump repeatedly expressed support for Bitcoin and digital assets, framing their innovation and decentralization as aligned with American values. His proposed policies aim to solidify U.S. leadership in blockchain technology.
Since Trump’s election victory, Bitcoin has rallied aggressively:
- Starting point: ~$69,353 (November 6)
- Current gain: Over 30% in less than three weeks.
This surge has also propelled "Bitcoin proxy stocks" like MSTR, which soared 10% on November 20. Notably, MSTR’s market capitalization now eclipses the combined value of Newmont Gold and Barrick Gold, the world’s top gold mining firms.
Corporate Bitcoin Adoption Accelerates
- MSTR’s massive purchase: 51,780 BTC ($4.6 billion) announced November 16, bringing its total holdings to 331,200 BTC. Year-to-date gains: 41.8%.
- Funding expansion: The company plans a $1.75B convertible notes offering, signaling further Bitcoin acquisitions.
Market rumor: Trump Media & Technology Group is nearing an all-stock deal to acquire Bakkt, a cryptocurrency platform owned by ICE (Intercontinental Exchange).
Is $100,000 Within Reach?
Traders remain bullish:
- Options activity: $850M in contracts bet on Bitcoin surpassing **$100,000** by December 27 (Deribit data).
Analyst projections:
- Ned Davis Research: $120,000+ by spring 2025, fueled by post-election optimism.
- Bitwise CIO Matt Hougan: $10K requires stronger demand from investors/Fed; long-term potential reaches **$500K** if Bitcoin displaces gold in portfolios and central bank reserves.
Legislative Push for Bitcoin
Senator Cynthia Lummis (R-WY) plans to introduce the BITCOIN Act, proposing the U.S. Treasury acquire 1M BTC (~$90B at current prices).
👉 Why institutional adoption could drive Bitcoin to new highs
FAQ: Bitcoin’s Record Rally
Q: What’s driving Bitcoin’s latest surge?
A: Trump’s pro-crypto stance, corporate buying (e.g., MSTR), and bullish options activity.
Q: How likely is a $100K Bitcoin soon?
A: High, given concentrated call options and institutional inflows—but volatility remains a factor.
Q: Could U.S. Bitcoin purchases impact markets?
A: Yes. The proposed 1M BTC acquisition would reduce supply, potentially boosting prices further.
👉 Explore Bitcoin’s volatility and trading strategies
Sources: 21st Century Business Herald, Securities Times, China Fund News, Caixin, public filings.
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