Bitcoin, the world’s leading cryptocurrency, surged to a fresh all-time high of $112,000 on July 10, marking a 3.1% single-day gain and a total increase of nearly 20% so far this year, as reported by Bloomberg.
The rally was fueled by renewed geopolitical tensions after U.S. President Donald Trump reignited his aggressive trade policies—slapping 50% tariffs on all copper imports and targeting Brazil with similar duties amid escalating tensions with President Lula.
“Bitcoin is the only asset I am aware of where it becomes less risky as it grows in size,” wrote Anthony Pompliano, founder and CEO of Professional Capital Management, in a letter to investors, Reuters reported.
“There were few sophisticated capital allocators who could gain exposure when bitcoin was $100-200 billion market cap. Now that the asset is measured in trillions, almost every capital allocator on the planet can put the exposure on.”
The Trump administration’s supportive stance on cryptocurrencies has given the digital asset market a significant boost, attracting increased capital into the space. As an example, Trump Media & Technology Group—an enterprise led by the president’s family—is reportedly planning to roll out an exchange-traded fund (ETF) that would invest in a range of crypto assets such as Bitcoin, Ether, Solana, and Ripple, according to a regulatory filing submitted to the U.S. Securities and Exchange Commission on Tuesday.
