Beautiful Virgin Islands

Saturday, Jul 26, 2025

Bitcoin Just Smashed Through $20,000 - What’s Next?

Bitcoin Just Smashed Through $20,000 - What’s Next?

Bitcoin, after bouncing around under $20,000 per bitcoin for the last month, has smashed through the psychological price barrier.
The bitcoin price, hitting $20,440 on the Luxembourg-based Bitstamp exchange before falling back slightly, is up around 200% over the last 12 months as governments ramp up spending in the wake of coronavirus lockdowns, investors look to bitcoin as a hedge against inflation, and institutional interest in bitcoin rises.

Bitcoin investors, who have cheered the bitcoin price rise this year, are feeling increasingly bullish going into 2021—with many predicting the price will continue to climb.

"As we come to the end of what has been an iconic year for bitcoin, I can only see more positive growth in 2021," the chief executive of Isle of Man-based bitcoin and cryptocurrency exchange CoinCorner Danny Scott said via email, pointing to U.S. business intelligence company MicroStrategy adding bitcoin to its corporate treasury and payments giant PayPal rolling out bitcoin buying and spending services as primary drivers of the 2020 bitcoin bull run.

Bitcoin's surge over $20,000 comes after a Reuters report claiming fund manager Ruffer Investment Management has moved around $675 million of its clients' money into bitcoin. Earlier reports had suggested the London-based firm, which manages around $27 billion worth of assets, had allocated a far smaller sum to bitcoin.

"Compared to 2017 when demand came from the retail market, this will eventually happen again, of course, the current demand is coming from an institutional level completely flying under the radar for many people and it looks set to continue through 2021," Scott added.

MicroStrategy has bought around $500 million of bitcoin so far this year, last week doubling down on its bitcoin bet and raising a further $650 million via a bond sale to buy more bitcoin.

Other companies have followed MicroStrategy's lead and a number of high-profile investors have named bitcoin as a potential hedge against the inflation they see on the horizon.

Earlier this month, Ray Dalio, the legendary billionaire founder and co-chairman of the world's biggest hedge fund, Bridgewater Associates, admitted bitcoin's now established itself as a "gold-like asset alternative."

However, some experienced bitcoin traders offered words of warning to potential bitcoin buyers.

"History has a warning for people buying at the new all-time-high," financial author and trading veteran Glen Goodman said via email.

"While I'm optimistic about the long-term prospects for bitcoin, four years ago we had a very similar situation with bitcoin breaking new ground, but just two weeks later its price plummeted by more than a third.

"History doesn't always repeat itself, of course, but the lesson is to be on your guard. The market often teaches harsh lessons in humility to those who risk too much on what they're told is a sure thing.

"Some of the biggest investors in the world have been singing bitcoin's praises in recent weeks. This suggests they already own bitcoin and are hoping to encourage more people to buy and boost the price upwards. Sometimes Wall Street 'whales' do this in order to sell their bitcoins to the little guys at higher prices."
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
×