Bitcoin broke its all-time high multiple times this week, and is currently sitting at around $98,000. Bitcoin isn’t the only crypto asset smashing records this week though, let’s get into it!
Solana saw a significant surge, with its market cap surpassing household names like Starbucks. The Solana blockchain is also now leading all others in daily net inflows. (Even Ethereum, the second largest cryptocurrency!)
MicroStrategy’s Bitcoin strategy continues to pay off handsomely. Since adopting Bitcoin in August 2020, the company’s stock is up over 2,300%, outpacing Berkshire Hathaway’s 36% growth over the same period. Remarkably, MicroStrategy has also outperformed Bitcoin itself, which rose around 600%. The company now holds 331,200 BTC, purchased for approximately $16.5 billion, making it the largest corporate Bitcoin holder. CEO Michael Saylor remains bullish, predicting Bitcoin could hit $13 million within the next 20 years.
Spot Bitcoin ETFs are experiencing unprecedented momentum too, with $1.7 billion in inflows last week alone, marking the sixth consecutive week of positive activity. Total AUM for these ETFs now stand at over $95 billion, representing over 5% of Bitcoin’s market cap. Ethereum ETFs are also doing well, with record inflows of $515 million last week.
Ripple’s XRP has surged almost 100% in the past week, driven by rumors that SEC Chair Gary Gensler was stepping down following Trump’s re-election. (This rumor was confirmed today as Gary Gesler announced his January 2025 resignation in an X post). Speculation about Ripple CEO Brad Garlinghouse advising Trump on crypto policy has further fueled bullish sentiment around XRP. Adding to the excitement around the token, Cardano founder Charles Hoskinson has suggested potential collaborations between Cardano and Ripple to integrate DeFi components, enhance liquidity, and even build stablecoin layers.
Donald Trump’s media company, Trump Media and Technology Group, is reportedly in talks to acquire Bakkt, a crypto trading platform owned by ICE. The news sent Bakkt’s stock soaring by over 160%, underscoring the growing intersection between traditional finance, crypto, and media ventures under the Trump administration’s crypto-friendly stance.
Lastly, we saw more speculation about regulatory shifts under Trump as former Binance US CEO Brian Brooks is considered a potential replacement for Gary Gensler. Brooks, known for his crypto expertise, could introduce a more favorable environment for crypto.
