Bitcoin's value surpasses €100,000 mark
In a series of recent developments, the digital currency Bitcoin has been making headlines.
Stephen Moore, temporarily appointed as a governor of the Federal Reserve by President Trump, was the lone voice at the latest Federal Reserve meeting, advocating for a 50 basis point interest rate cut. This move, if implemented, could potentially stimulate economic growth and further fuel the rally in capital markets, including Bitcoin.
Meanwhile, the Bitcoin reserve remains a high priority for the Trump administration. The new director of the "Presidential Council of Advisers on Digital Assets" has confirmed this, indicating a continued focus on the digital currency.
The focus on Bitcoin is not limited to the US. More countries are in the process of building or expanding their own Bitcoin reserves. These include the United Arab Emirates, Kazakhstan, Pakistan, El Salvador, Kyrgyzstan, and the Kingdom of Bhutan. Notably, El Salvador has actively expanded its Bitcoin reserves as part of a national growth strategy, holding over 6,200 Bitcoins. Bhutan, on the other hand, has quietly accumulated over 11,000 Bitcoins through hidden mining powered by hydropower.
The price of Bitcoin has been on a steady rise, surpassing the 100,000 euro mark today. This is a significant increase from a year ago, when a Bitcoin cost about half its current price. With the all-time high for Bitcoin, at 124,533 US dollars, seemingly within reach again, investors are keeping a close eye on the digital currency.
Interestingly, Bitcoin's price has risen by more than 8% so far this month, currently standing around 117,500 US dollars. This strong performance in September has historically been a good indicator of a strong fourth quarter, a trend that could continue this year.
US President Donald Trump is reportedly attempting to pressure the Federal Reserve to lower interest rates to ease the US budget. This move could potentially further fuel the rally in capital markets, including Bitcoin.
However, concerns about the escalating national debt of the USA are growing. Senator Cynthia Lummis has proposed the "BITCOIN Act of 2025", which suggests increasing the US Bitcoin reserve to 1 million BTC. This move could potentially stabilize the digital currency and provide a safer haven for investors.
In a Bloomberg interview, Michael Saylor reinforced his thesis that much higher prices are ahead for Bitcoin. He also asserted that the Bitcoin winter is not coming back, and Bitcoin is likely to stabilize at a much higher level in the future. If Bitcoin ends the month at its current price level, it would have the best September in the last 13 years.
As the world watches the developments in the Bitcoin market, one thing is clear: the digital currency is here to stay, and its influence on the global economy is only set to grow.
