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

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.

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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.

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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.

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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.

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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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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