Bitcoin Approaches $100K: Cathie Wood Trades & Elon Musk's Dogecoin Surge This Week in Crypto

The first weekend of 2025 has been a whirlwind in the world of finance, with cryptocurrencies making significant strides. Bitcoin (BTC) is inching closer to the $100,000 mark, while Dogecoin has seen a surge, possibly due to Elon Musk’s influence. Let’s dive into the details.

Bitcoin Nears $100,000, Dogecoin Soars

The cryptocurrency market has started the year on a high note, with Bitcoin prices nearing the $100,000 mark despite record ETF outflows. Dogecoin has also seen a significant increase in value.

Bitcoin Could Reach $1 Million, Says Arthur Hayes

BitMEX co-founder Arthur Hayes has suggested that a change in US banking regulations could propel Bitcoin to a $1 million valuation. Hayes believes that if US banks receive an exemption from the supplementary leverage ratio (SLR) rule, it could lead to increased market liquidity, significantly boosting Bitcoin's value.

Cathie Wood’s Ark Invest Makes Strategic Trades

Ark Invest, led by Cathie Wood, made significant trades involving Palantir Technologies Inc., Ark 21Shares Bitcoin ETF, and Quantum-Si Inc. Ark Invest sold 20,332 shares of Palantir, aligning with their recent trend of reducing its position in the hot AI stock.

Elon Musk’s Influence on Dogecoin

The price of Dogecoin has increased, possibly due to social media platform X getting closer to launching payments in 2025. Elon Musk, who acquired the platform for $44 billion in 2022, could be a significant factor in this surge.

Bitcoin Discussion at Mar-a-Lago

Bitcoin advocate Michael Saylor met with Eric Trump at Mar-a-Lago, sparking speculation that Bitcoin could have been a topic of discussion between the two influential figures. Saylor shared a photo of the meeting with the caption, “Bitcoin is on the menu at Mar-a-Lago.”

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