INSUBCONTINENT EXCLUSIVE:
Bitcoin reached an unprecedented high of $109,424 on Tuesday, according to market data tracking services
Bitcoin past Amazon to become the fifth largest asset globally by market value
The digital currency now boasts a market capitalization of approximately $2.16 trillion, placing it in the elite company of Apple,
Microsoft, Saudi Aramco, and Alphabet.Mainstream adoption drives much of this growth
Nearly 50 million Americans now own or trade cryptocurrency, representing a significant shift in public perception
This widespread acceptance comes alongside major institutional backing that was unthinkable just years ago.JPMorgan, managing $4 trillion in
assets, recently reversed its long-standing opposition to cryptocurrency
(Photo Internet reproduction)The United States announced plans to establish a strategic Bitcoin reserve, starting with cryptocurrency assets
already seized through criminal and civil forfeitures
Several states have similar legislation pending.The cryptocurrency recovered impressively from an April slump when prices fell to around
Market analysts attribute this recovery to diminishing concerns about global trade tensions and optimistic outlooks regarding
crypto-friendly policies.Technical indicators support this bullish trend
Bitcoin broke through its 21-day Exponential Moving Average, establishing $102,790 as a strong support level
This pattern resembles the market structure seen before the 2021 bull run.Looking ahead, experts project continued growth
Standard Chartered forecasts Bitcoin could reach $500,000 before 2029, driven by institutional exposure and sovereign backing
Strategy (formerly MicroStrategy), Coinbase Global, MARA Holdings, and Riot Platforms all posted gains this week, reflecting the broader
market optimism surrounding digital assets.
