Bitcoin Nearing $90k

Market sentiment has noticeably improved this week, with buying pressure picking up - Bitcoin rose 5.5%, and several altcoins gained over 10%. Although we didn't get any major bullish headlines, the easing of geopolitical tensions and some promising chatter around Trump potentially softening trade tariffs has clearly helped calm the market.

On March 19, the Fed held rates steady at their FOMC meeting, triggering a modest bounce in global markets. Analysts are now pencilling in two potential rate cuts in 2025, and we're closely watching June as a possible first move if macroeconomic conditions keep trending positively.

Gold Price Performance

Interestingly, investor confidence in risk assets seems to be bouncing back, highlighted by a huge $1.35 trillion jump in the U.S. stock market yesterday. Gold, meanwhile, which had been surging in recent weeks, pulled back 1.3%, a pretty clear signal that investors are rotating away from safe havens and back into risk-on mode.

Weekly Price Update

Senator Lummis Proposes U.S. Sell Gold to Buy 1 Million Bitcoin

Senator Lummis recently introduced legislation proposing the U.S. Treasury sell a portion of its goldreserves to accumulate up to 1 million Bitcoin over five years. The bill aims to diversify national reserves and strengthen America’s position in the ongoing global race for Bitcoin accumulation, all without adding to taxpayer burdens or the national deficit.

Senator Lummis emphasised that the U.S. already possesses the financial assets in the form of gold certificates to convert into Bitcoin, suggesting that this move could be executed without adversely affecting the country's balance sheet.

This proposal aligns with discussions we've had on our podcast, where we explored the idea of the U.S. selling a portion of their gold reserves to accumulate Bitcoin. We discussed how this strategy could allow the government to invest in Bitcoin without directly utilising taxpayer funds. From a diversification standpoint, introducing another "store of value" asset like Bitcoin alongside gold makes sense. By reallocating a small portion of existing gold holdings into Bitcoin, the government could maintain its safe-haven and inflation-hedge assets while embracing the potential of digital gold.

BlackRock Signals Institutional Wave for BTC & ETH

BlackRock states that Bitcoin’s current valuation still underrepresents its growing institutional adoption, despite strong price performance. Blackrock noted that many large allocators remain underexposed to Bitcoin and are only now beginning to formulate digital asset strategies. It is the first sign that the real wave of institutional capital is still forming, and when it arrives, it could cause a repricing of Bitcoin’s value.

BlackRock’s conviction isn’t limited to Bitcoin. Its BUIDL fund, focused on tokenised real-world assets (RWAs), has now grown its Ether holdings to $1.145 billion, reflecting Ethereum’s rising status as a foundational layer for tokenised treasury products, bonds, and off-chain assets. The fact that BlackRock is steadily stacking ETH, even during bearish sentiment surrounding its recent performance, signals that institutional investors are seeing the bigger picture and betting on Ethereum's long-term potential.

USA Own 25% BTC Supply By 2035?

Michael Saylor recently proposed an ambitious plan urging the US government to acquire 25% of Bitcoin’s total supply (approximately 5.25 million BTC by 2035), advocating for a structured approach involving daily incremental purchases over the next decade. This proposal underscores Saylor’s conviction that Bitcoin should serve as a strategic reserve asset, potentially cementing the U.S.'s dominance in the evolving digital economy. However, executing such massive acquisitions would require careful planning, significant funding, and careful management of market impact and liquidity

Meanwhile, MicroStrategy, under Saylor’s leadership, continues its aggressive accumulation strategy. The firm now holds over 506,000 BTC (valued at approximately $47.4 billion) with their latest substantial purchase further signalling strong institutional conviction in Bitcoin’s long-term value. Such bold moves by MicroStrategy could serve as a catalyst, encouraging more institutions and possibly governments to initiate or expand their own positions.

BTC & ETH ETF Performance

In ETF markets, the trend appears to be tilting bullish again. Bitcoin ETFs posted a 8 day positive inflow streak totalling $896.6 million. This rebound suggests renewed confidence from U.S. investors following recent macro uncertainty. However, Ethereum ETFs continue to extend their fourth consecutive week of negative net outflows, net outflows totalling $153.1 million in the past 8 trading days.

Proof Of Success Podcast - Changing The Way We Buy

On this episode of Proof of Success, we dive into the rise of one of Australia’s most recognised luxury watch dealers  - Calum Best. From working three jobs and filming content on an iPhone to building a thriving business that blends crypto, content, and high-end timepieces, Calum's story is the ultimate blueprint for hustle, resilience, and passion.

To Watch Now

Join UpTrade Alpha: HERE

Listen on Spotify: HERE

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