Why Everyone Wants BITCOIN Now!

Market Trends & Drivers - Bitcoin reached a new high above $123,000 [1] - Wall Street's attention is now fully on Bitcoin [2] - Record inflows into Bitcoin ETFs are driving the price increase, with BlackRock's fund reaching almost $90 billion in about a year, becoming a top 20 largest ETF in the world [2] - The expiration of options at the end of Q2 removed downward pressure on Bitcoin [3] - Short sellers being "blown out" as Bitcoin's price increased contributed to the price discovery phase [4] - Bitcoin has transitioned from a contrarian trade to a consensus trade, with ETFs, Bitcoin treasury companies, retail investors, and sovereign wealth funds all showing interest [6] Regulatory & Political Landscape - A friendlier administration and Congress are seen as helpful for Bitcoin [8] - The pending bills primarily address stablecoins and market structure rather than Bitcoin specifically [9] - Politicians are likely to lean into the crypto sector due to the interest of younger generations [14] Custody & Investment Strategies - Self-custody is a key part of Bitcoin's value proposition, but qualified custodians are necessary for regulated financial entities [16] - Public companies face different limitations than individuals regarding custody of Bitcoin [17]