Bitcoin's Bullish Run, Cathie Wood's Trades, And Elon Musk's Dogecoin Influence: This Week In Crypto

Benzinga Neuro

January 05, 2025

The first weekend of 2025 has been a whirlwind in the world of finance, with cryptocurrencies making significant strides. Bitcoin (CRYPTO: BTC) is inching closer to the $100,000 mark, while Dogecoin has seen a surge, possibly due to Elon Musk’s influence. Meanwhile, Cathie Wood’s Ark Invest has been making strategic trades. 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 (CRYPTO: DOGE) has also seen a significant increase in value.

Read the full article here.

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.

Read the full article here.

See Also: Peter Thiel’s Bubble Theory Gains Relevance As Bitcoin Hovers Around $95K: ‘Extremely Hard To Define’

Cathie Wood’s Ark Invest Makes Strategic Trades

Ark Invest, led by Cathie Wood, made significant trades involving Palantir Technologies Inc. (NYSE:PLTR), Ark 21Shares Bitcoin ETF (BATS:ARKB), and Quantum-Si Inc. (NASDAQ:QSI). Ark Invest sold 20,332 shares of Palantir, aligning with Ark's recent trend of reducing its position in the hot AI stock.

Read the full article here.

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 (formerly known as Twitter) for $44 billion in 2022, could be a significant factor in this surge.

Read the full article here.

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.”

Read the full article here.

Read Next:

If You Invested $1,000 In Pepe Coin When Elon Musk Shared A Meme Earlier This Year, Here’s How Much You’d Have

Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Rounak Jain

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