The proposed plan by Vancouver Mayor Ken Sim for the city’s “diversification of financial resources” suggested an investment in Bitcoin as a reserve asset.
Bitcoin Adoption news
Bitcoin price rallied over 58% since May, when the M2 money supply turned positive year-over-year for the first time since November 2023.
On the yearly chart, Bitcoin rose 146% while MicroStrategy gained over 599% as more retail investment increased MicroStrategy’s volatility compared to BTC.
Increasingly more countries are preparing crypto regulatory frameworks inspired by Europe’s upcoming MiCA regulations.
The UK’s top financial regulator, the FCA, has published a regulatory roadmap that plans to release comprehensive cryptocurrency regulations by 2026.
Onchain data reveals that ETF flows haven’t been the primary causes of sell pressure for Bitcoin.
Bitcoin’s price action has historically benefited from economic concerns and issues in the banking industry.
Analysts are eyeing a potential $20,000 cycle top for the Ether price, which is expected to gain momentum in the first half of 2025.
Van Eck says BTC can reach a price of $180,000 this cycle but warned that elevated funding rates could be showing early signs of “overheating.”
Bitcoin is inching up toward six-figure valuation as investor optimism remains high due to Donald Trump’s incoming presidency and optimistic signs for cryptocurrency regulation.