Bitcoin surged to an all-time high of $154,200 on Tuesday after the United States Treasury Department announced the establishment of a Strategic Bitcoin Reserve holding approximately 200,000 BTC — currently worth approximately $28 billion — in the most significant institutional endorsement of cryptocurrency by any major government in history.
The announcement triggered a 22% single-day price increase in Bitcoin, the largest daily gain since 2021. The total market capitalisation of all digital assets crossed $4 trillion for the first time.
Global Reaction
Germany's finance ministry called for EU-wide discussions on digital asset reserves. El Salvador, which adopted Bitcoin as legal tender in 2021, saw its sovereign bond spreads compress significantly on investor hopes that US legitimisation would reduce perceptions of risk.
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I've been living in the region described for three years now and the on-the-ground reality is slightly more complicated than the article suggests, though the main thrust is accurate.
Interesting piece but I feel the article undersells the counterarguments from the opposing side. Paragraph 4 gives them one sentence when they arguably deserve more space.
I've been following this story across multiple outlets and this is by far the most balanced and thoroughly sourced account. Well done to the editorial team.
This is one of the most comprehensive pieces of journalism I've read this year. The depth of reporting here is remarkable — I especially appreciated the inclusion of dissenting voices rather than just the official narrative. More of this, please.
This changes everything. Or at least it should.
First time commenting here. Found this via social media. Incredible journalism — going to read more from this author.