{"id":601982,"date":"2025-07-10T08:11:20","date_gmt":"2025-07-10T06:11:20","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=601982"},"modified":"2025-07-10T08:11:24","modified_gmt":"2025-07-10T06:11:24","slug":"bitcoin-hits-r2-million-2","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/601982-bitcoin-hits-r2-million-2.html","title":{"rendered":"Bitcoin hits R2 million"},"content":{"rendered":"\n

Bitcoin surged past $112,000 (R2 million on exchange Binance) for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small.<\/p>\n\n\n\n

The original cryptocurrency rose as much as 3.1% to $112,009, pushing its gain this year close to 20%.<\/p>\n\n\n\n

The move underscores the speculative momentum gripping markets even as President Donald Trump unleashes a fresh barrage of tariff announcements. <\/p>\n\n\n\n

The crypto rally is far from isolated: Nvidia\u2019s brush with a $4 trillion (R71 trillion) valuation in Wednesday trading helped push the S&P 500 within a whisker of its record, with fast-money investors joining the stock-market fray.<\/p>\n\n\n\n

\u201cVoracious demand from equity market vehicles such as ETFs and digital-asset Treasuries has underpinned a continuous bid for Bitcoin,\u201d said Spencer Hallarn, global head of OTC trading at crypto investment firm GSR.<\/p>\n\n\n\n

The rally is a boon for a new generation of Wall Street deal makers and corporate executives \u2014 led by crypto treasury companies \u2014 that are banking on the token\u2019s advance to unlock new rounds of financing.<\/p>\n\n\n\n

Bitcoin\u2019s breakout, fueled by institutional demand, is the latest validation for crypto bulls, who pounced after the November election on bets that the Trump presidency will usher in a new era of permissive regulation.  <\/p>\n\n\n\n

Still, digital-asset markets remain at the mercy of febrile sentiment on Wall Street in a year of volatility.<\/p>\n\n\n\n

\u201cTraders should stay vigilant for potential profit-taking or macroeconomic shifts that could spark corrections, but the trend is firmly bullish for now,\u201d said Vincent Liu, chief investment officer at crypto trading firm Kronos Research.<\/p>\n\n\n\n

Short-dated options are also signalling optimism. On crypto-exchange Deribit, the bullish contracts expiring in late July show elevated open interest at the $115,000 (R2.04 million) and $120,000 (R2.13 million) strike levels.<\/p>\n\n\n\n

\u201cBTC\u2019s move through $112,000 (R1.99 million) reflects the compounding effects of strong ETF inflows, rising institutional adoption, and a favourable macro backdrop,\u201d said Adam Guren, founder and CIO at Hunting Hill Global Capital. <\/p>\n\n\n\n

\u201cWith rate cuts back on the table and political instability rising globally, investors are reaching for hard assets and Bitcoin is benefiting from both \u2018gold like\u2019 positioning and risk on momentum. <\/p>\n\n\n\n

What\u2019s different this cycle is that the demand is structural, regulated, and sticky.\u201d<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin surged past $112,000 for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small.<\/p>\n","protected":false},"author":341034,"featured_media":530719,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,191,100513],"class_list":["post-601982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-cryptocurrency","tag-vincent-liu"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/601982"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=601982"}],"version-history":[{"count":3,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/601982\/revisions"}],"predecessor-version":[{"id":602000,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/601982\/revisions\/602000"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/530719"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=601982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=601982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=601982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}