London Daily

Focus on the big picture.
Monday, Sep 08, 2025

Bitcoin Just Smashed Through $20,000 - What’s Next?

Bitcoin Just Smashed Through $20,000 - What’s Next?

Bitcoin, after bouncing around under $20,000 per bitcoin for the last month, has smashed through the psychological price barrier.
The bitcoin price, hitting $20,440 on the Luxembourg-based Bitstamp exchange before falling back slightly, is up around 200% over the last 12 months as governments ramp up spending in the wake of coronavirus lockdowns, investors look to bitcoin as a hedge against inflation, and institutional interest in bitcoin rises.

Bitcoin investors, who have cheered the bitcoin price rise this year, are feeling increasingly bullish going into 2021—with many predicting the price will continue to climb.

"As we come to the end of what has been an iconic year for bitcoin, I can only see more positive growth in 2021," the chief executive of Isle of Man-based bitcoin and cryptocurrency exchange CoinCorner Danny Scott said via email, pointing to U.S. business intelligence company MicroStrategy adding bitcoin to its corporate treasury and payments giant PayPal rolling out bitcoin buying and spending services as primary drivers of the 2020 bitcoin bull run.

Bitcoin's surge over $20,000 comes after a Reuters report claiming fund manager Ruffer Investment Management has moved around $675 million of its clients' money into bitcoin. Earlier reports had suggested the London-based firm, which manages around $27 billion worth of assets, had allocated a far smaller sum to bitcoin.

"Compared to 2017 when demand came from the retail market, this will eventually happen again, of course, the current demand is coming from an institutional level completely flying under the radar for many people and it looks set to continue through 2021," Scott added.

MicroStrategy has bought around $500 million of bitcoin so far this year, last week doubling down on its bitcoin bet and raising a further $650 million via a bond sale to buy more bitcoin.

Other companies have followed MicroStrategy's lead and a number of high-profile investors have named bitcoin as a potential hedge against the inflation they see on the horizon.

Earlier this month, Ray Dalio, the legendary billionaire founder and co-chairman of the world's biggest hedge fund, Bridgewater Associates, admitted bitcoin's now established itself as a "gold-like asset alternative."

However, some experienced bitcoin traders offered words of warning to potential bitcoin buyers.

"History has a warning for people buying at the new all-time-high," financial author and trading veteran Glen Goodman said via email.

"While I'm optimistic about the long-term prospects for bitcoin, four years ago we had a very similar situation with bitcoin breaking new ground, but just two weeks later its price plummeted by more than a third.

"History doesn't always repeat itself, of course, but the lesson is to be on your guard. The market often teaches harsh lessons in humility to those who risk too much on what they're told is a sure thing.

"Some of the biggest investors in the world have been singing bitcoin's praises in recent weeks. This suggests they already own bitcoin and are hoping to encourage more people to buy and boost the price upwards. Sometimes Wall Street 'whales' do this in order to sell their bitcoins to the little guys at higher prices."
Comments

Oh ya 5 year ago
They say a hedge against inflation!!! Going up 200%in a year is inflation. What next? Well last all time high was 19.800 or so and then down to 4000. Maybe again and that would be so funny to see. A fool and his money......

Newsletter

Related Articles

0:00
0:00
Close
Court Staff Cover Up Banksy Image of Judge Beating a Protester
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
Elon Musk Poised to Become First Trillionaire Under Ambitious Tesla Pay Plan
France, at an Impasse, Heads Toward Another Government Collapse
Burning the Minister’s House Helped Protesters to Win Justice: Prabowo Fires Finance Minister in Wake of Indonesia Protests
Brazil Braces for Fallout from Bolsonaro Trial by corrupted judge
The Country That Got Too Rich? Public Spending Dominates Norway Election
Nearly 40 Years Later: Nike Changes the Legendary Slogan Just Do It
Generations Born After 1939 Unlikely to Reach Age One Hundred, New Study Finds
End to a four-year manhunt in New Zealand: the father who abducted his children to the forests was killed, the three siblings were found
Germany Suspends Debt Rules, Funnels €500 Billion Toward Military and Proxy War Strategy
EU Prepares for War
BMW Eyes Growth in China with New All‑Electric Neue Klasse Lineup
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Brand-New $1 Million Yacht Sinks Just Fifteen Minutes After Maiden Launch in Turkey
Here’s What the FBI Seized in John Bolton Raid — and the Legal Risks He Faces
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
×