Bitcoin reached new all-time highs, surpassing $121,000, boosted by growing institutional adoption and optimism surrounding the upcoming "Crypto Week" in Washington. Bitcoin's price rose by 2.7%, reaching $120,778.8.
India is weighing Bitcoin's role in national reserves amid rising global adoption, political interest, and energy potential. A top Indian politician has suggested piloting a national Bitcoin reserve, underscoring the need for a clear cryptocurrency policy in India.
Fund manager Bill Miller IV argues that taxing Bitcoin is illogical because the government doesn't manage its property rights—the blockchain does. His view contrasts with IRS regulations, which treat crypto as property subject to capital gains and income taxes, creating ongoing uncertainty for investors.
Analysts predict Bitcoin could benefit significantly from a potential 'Big Beautiful Bill' under a second Trump administration. This optimism stems from Trump's increasingly pro-crypto stance and policies aimed at boosting the economy and deregulation, which are seen as favorable for the digital asset.
While some companies have embraced Bitcoin as a strategic asset, tech giants Meta, Amazon, and Microsoft have resisted the trend, rejecting proposals to add the cryptocurrency to their corporate treasuries. This decision is driven by several key factors that underscore the challenges of adopting Bitcoin in the financial operations of large corporations . One of the primary reasons is Bitcoin's extreme volatility .
