Bitcoin is currently priced at $105,725.70. Exactly one year ago, Bitcoin was trading at $42,582.61,
Despite its characteristic volatility, Bitcoin is holding firm at $105K, up almost 150% from last year. Fueled by Donald Trump’s pro-bitcoin agenda and the ripple effect of his announcements both domestically and globally, Bitcoin’s price continues to command attention, even in its so-called “crash.”
Pro-Bitcoin billionaire Scott Bessent confirmed as treasury secretary
The U.S. Senate confirmed billionaire investor Scott Bessent as Treasury Secretary in a 68-29 vote.
The Senate tasked Bessent with balancing tax cuts, deficit reduction, and tariff policy while advocating for pro-growth economic measures.
A strong supporter of Bitcoin and crypto innovation, Bessent has expressed interest in integrating digital assets into US financial policy. He has also pushed for the extension of Trump-era tax cuts and explored the creation of an External Revenue Service to collect tariffs.
Does Fed chair Powell support crypto now?
Bitcoin soared past $105,000 after the Federal Reserve decided to keep interest rates steady, giving the crypto market a solid boost.
Federal Reserve Chair Jerome Powell said , "Banks are perfectly able to serve crypto customers" as long as they manage the risks, adding to the optimistic sentiment. While most stocks struggled, Bitcoin's rally picked up steam, with Ethereum and Solana also seeing solid gains.
US states embrace strategic Bitcoin reserves. Will other nations follow suit?
As the US Subcommittee on Digital Assets deliberates on a national Bitcoin stockpile, twelve states have already taken the initiative to establish their own state-level Bitcoin reserves. These bills empower state treasuries to allocate a portion of public funds into Bitcoin, with some exploring broader digital asset investments.
Texas is loudly leading the charge. On January 29th, Texas Lieutenant Governor Dan Patrick announced that creating a “Texas Bitcoin Reserve” is one of his top 25 legislative priorities this session.
Later that same day, Czech National Bank Governor Aleš Michl announced he was considering adding Bitcoin to the country’s reserves on the global stage.
The move could allocate up to 5% of its €140 billion holdings into the cryptocurrency.
