Beautiful Virgin Islands

Thursday, Oct 30, 2025

What the #)$*#@)($ is happening with Bitcoin's insane record run?

What the #)$*#@)($ is happening with Bitcoin's insane record run?

Bitcoin is crashing -- upward. It just passed $28,000 and shows no signs of stopping.
The digital currency has a market value north of $500 billion. Think Bitcoin is just a fad? It's worth more than Visa (V) or Mastercard (MA). Or Walmart (WMT).

Bitcoin passed $20,000 for the first time just 11 days ago. Now it's knocking at $30,000's door.

Its rapid rise has been remarkable -- or insane, depending on your appetite for risk. But there's some logic to the run-up: Investors are pouring money into bitcoin and other cryptocurrencies during the 1Covid1-19 pandemic as the Federal Reserve sent interest rates near zero (and expects to keep them there for several more years), severely weakening the US dollar.

That makes bitcoin, comparatively, an attractive currency. There's a set limit to the number of bitcoins on the planet, and investors believe that once the supply runs out, the digital coin's value can only increase.

Also aiding in bitcoin's soaring valuation: Big, name-brand investors are stockpiling it, and huge consumer companies are embracing it. That's adding a dose of validity and appeal to cryptocurrency for mainstream investors. For example, a top executive at BlackRock (BLK) recently said the cryptocurrency can replace gold, and Square (SQ) and PayPal (PYPL) have both embraced bitcoin.

As bitcoin surges to all-time highs, cryptocurrency brokerage Coinbase, the most prominent cryptocurrency exchange, has signaled its intent to go public.

Still, the recent cryptocurrency surge is showing signs of a melt-up -- over-enthusiasm fueled by the fear of missing out, not simply market fundamentals.

Take Elon Musk's sarcastic tweet about bitcoin rival Dogecoin last week: The digital coin, which itself was constructed as a cryptocurrency parody, shot up 20% immediately after Musk threw his support behind it on Twitter.

Anhony Scaramucci, Skybridge Capital's founder, has a big stake in bitcoin, but even he says people need to watch out. He told CNN Business earlier this month that it could be a solid addition to the average investor's portfolio -- but you've got to have the stomach for it.

On CNN Business' "Markets Now" live show earlier this month, Scaramucci said people have begun to accept bitcoin -- and since it appears in so few portfolios, it has plenty of room to grow. Still, bitcoin is a volatile asset and will be a risky holding if you invest in it.

"This thing has a tendency to crash up," he said. "It is due for a correction, and these corrections can be violent."

Scaramucci said bitcoin could suddenly tumble 20% to 50%.

"You have to be very cautious," he added.

But he also highlighted bitcoin's staying power over the course of the past decade: If you took $1 and put 99 cents of it in cash and a penny in bitcoin, that investment strategy would have outperformed $1 invested in the S&P 500 (SPX) over the last 10 years, he noted.

"Bitcoin's best days are ahead of it, but it's going to be volatile and I think people need to be prepared for it," Scaramucci told CNN Business.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
UK and Vietnam Sign Landmark Migration Deal to Fast-Track Returns of Irregular Arrivals
UK Drug-Pricing Overhaul Essential for Life-Sciences Ambition, Says GSK Chief
Princesses Beatrice and Eugenie Temporarily Leave the UK Amid Their Parents’ Royal Fallout
UK Weighs Early End to Oil and Gas Windfall Tax as Reeves Seeks Investment Commitments
UK Retail Inflation Slows as Shop Prices Fall for First Time Since Spring
Next Raises Full-Year Profit Guidance After Strong Third-Quarter Performance
Reform UK’s Lee Anderson Admits to 'Gaming' Benefits System While Advocating Crackdown
United States and South Korea Conclude Major Trade Accord Worth $350 Billion
Hurricane Melissa Strikes Cuba After Devastating Jamaica With Record Winds
Vice President Vance to Headline Turning Point USA Campus Event at Ole Miss
U.S. Targets Maritime Narco-Routes While Border Pressure to Mexico Remains Limited
Bill Gates at 70: “I Have a Real Fear of Artificial Intelligence – and Also Regret”
Elon Musk Unveils Grokipedia: An AI-Driven Alternative to Wikipedia
Saudi Arabia Unveils Vision for First-Ever "Sky Stadium" Suspended Over Desert Floor
Amazon Announces 14 000 Corporate Job Cuts as AI Investment Accelerates
UK Shop Prices Fall for First Time Since March, Food Leads the Decline
London Stock Exchange Group ADR (LNSTY) Earns Zacks Rank #1 Upgrade on Rising Earnings Outlook
Soap legend Tony Adams, long-time star of Crossroads, dies at 84
Rachel Reeves Signals Tax Increases Ahead of November Budget Amid £20-50 Billion Fiscal Gap
NatWest Past Gains of 314% Spotlight Opportunity — But Some Key Risks Remain
UK Launches ‘Golden Age’ of Nuclear with £38 Billion Sizewell C Approval
UK Announces £1.08 Billion Budget for Offshore Wind Auction to Boost 2030 Capacity
UK Seeks Steel Alliance with EU and US to Counter China’s Over-Capacity
UK Struggles to Balance China as Both Strategic Threat and Valued Trading Partner
Argentina’s Markets Surge as Milei’s Party Secures Major Win
British Journalist Sami Hamdi Detained by U.S. Authorities After Visa Revocation Amid Israel-Gaza Commentary
King Charles Unveils UK’s First LGBT+ Armed Forces Memorial at National Memorial Arboretum
At ninety-two and re-elected: Paul Biya secures eighth term in Cameroon amid unrest
Racist Incidents Against UK Nurses Surge by 55%
UK Chancellor Rachel Reeves Cites Shared Concerns With Trump Administration as Foundation for Early US-UK Trade Deal
Essentra plc: A Closer Look at a UK ‘Penny Stock’ Opportunity Amid Market Weakness
U.S. and China Near Deal to Avert Rare-Earth Export Controls Ahead of Trump-Xi Summit
Justin time: Justin Herbert Shields Madison Beer with Impressive Reflex at Lakers Game
Russia’s President Putin Declares Burevestnik Nuclear Cruise Missile Ready for Deployment
Giuffre’s Memoir Alleges Maxwell Claimed Sexual Act with Clooney
House Republicans Move to Strip NYC Mayoral Front-Runner Zohran Mamdani of U.S. Citizenship
Record-High Spoiled Ballots Signal Voter Discontent in Ireland’s 2025 Presidential Election
Philippines’ Taal Volcano Erupts Overnight with 2.4 km Ash Plume
Albania’s Virtual AI 'Minister' Diella Set to 'Birth' Eighty-Three Digital Assistants for MPs
Tesla Unveils Vision for Optimus V3 as ‘Biggest Product of All Time’, Including Surgical Capabilities
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
Convicted Sex Offender Mistakenly Freed by UK Prison Service Arrested in London
United States and China Begin Constructive Trade Negotiations Ahead of Trump–Xi Summit
U.S. Treasury Sanctions Colombia’s President Gustavo Petro over Drug-Trafficking Allegations
Miss USA Crowns Nebraska’s Audrey Eckert Amid Leadership Overhaul
‘I Am Not Done’: Kamala Harris Signals Possible 2028 White House Run
NBA Faces Integrity Crisis After Mass Arrests in Gambling Scandal
Swift Heist at the Louvre Sees Eight French Crown Jewels Stolen in Under Seven Minutes
U.S. Halts Trade Talks with Canada After Ontario Ad Using Reagan Voice Triggers Diplomatic Fallout
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
×