Bitcoin hits record high on the heels of Trump’s victory. While critics like Peter Schiff remain skeptical, industry leaders stay optimistic.
At press time, it was trading at $82,025—an impressive 120% gain over the past year. This rally has beenWhile Bitcoin’s surge has excited many investors, not all observers are convinced of its long-term viability.He argued that public figures often modify their stance on Bitcoin for political or financial advantage, highlighting Trump as a prime example.
According to Schiff, Trump’s newfound advocacy for Bitcoin was driven not by belief, but by the pursuit of political capital and support.Schiff further elaborated that when Trump was not in the political spotlight, he was candid in his negative views, calling BTC ‘a threat to the American financial system’ and believed it could ‘undermine the U.S. dollar.’On the other side of the debate, Bitcoin continues to find strong advocates within the financial industry.
He explained that as a company’s share price increases, its valuation multiples also rise. This often leads investors to perceive the stock as overvalued, reducing their interest until the price declines. However, when Bitcoin’s price appreciates, it enhances the perception of its potential success and future value, which can attract more investors and drive the price even higher, he noted.for the last week showed a surge in Bitcoin-related searches, with a score of 73, up from persistent lows since April.
With retail participation ramping up and institutional confidence in Bitcoin holding strong, one question remains: how far can Bitcoin’s current momentum take it?Kamina is a content writer at AMBCrypto. With a Journalism degree and MBA in International Business, she expertly navigates blockchain, crypto, and AI, melding her academic insights with future-forward interests to create compelling narratives that educate and inspire in the evolving digital landscape.
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