Bitcoin Soars to Record High as Fiscal Fears Drive Demand
Bitcoin has achieved a historic milestone, closing at an all-time high of $106,830 amid growing investor interest in spot ETFs and concerns over global fiscal stability. Analysts suggest this surge reflects a broader shift toward alternative assets like Bitcoin and gold as traditional markets face turbulence. With the Coinbase Bitcoin Premium Index remaining positive, market watchers are now eyeing the $110,000 threshold as the next target. As of May 21, 2025, BTC is trading at 107,930.09 USDT, signaling sustained bullish momentum.
Bitcoin Achieves Record Daily Close Amid Fiscal Concerns
Bitcoin marked a historic milestone with its highest-ever daily closing price at $106,830, as investors flocked to spot ETFs amid turbulent bond markets. The surge reflects growing unease over the fiscal stability of major economies, including the U.S., with analysts suggesting bitcoin and gold stand to benefit.
The Coinbase Bitcoin Premium Index remained positive, signaling sustained demand. Market watchers now eye $110,000 as the next critical level for BTC, with institutional inflows and macroeconomic uncertainty driving momentum.
Texas Moves Closer to Building a Strategic Bitcoin Reserve
The Texas House of Representatives has advanced legislation to establish a state-owned Bitcoin reserve, marking a significant step toward institutional adoption of cryptocurrencies. Senate Bill 21, approved on its second reading, WOULD create the Texas Strategic Bitcoin Reserve—a first-of-its-kind initiative among U.S. states.
As the world’s eighth-largest economy, Texas signals growing mainstream acceptance of digital assets through this move. The bill now awaits final approval from Governor Greg Abbott, who has previously expressed pro-crypto views. Passage would position Texas as a leader in blockchain innovation at the state level.
This development comes amid increasing institutional interest in Bitcoin as a treasury asset, with microstrategy and Tesla among prominent corporate holders. The proposed reserve could accelerate cryptocurrency integration into traditional financial systems.
Texas House Advances Bitcoin Reserve Bill With Bipartisan Backing
The Texas House of Representatives has taken a significant step toward establishing a state Bitcoin reserve, passing Senate Bill 21 on its second reading with a decisive 105-23 vote. The legislation now moves to a third reading, bringing Texas closer to becoming the second U.S. state, after New Hampshire, to create a government-managed Bitcoin reserve.
An amendment introduced by Representative Linda Garcia (D-TX) was adopted, doubling the required market capitalization period for eligible cryptocurrencies from 12 to 24 months. The bill stipulates that cryptocurrencies must maintain a $500 billion market cap over this extended period to qualify for inclusion in the reserve.
The bipartisan support underscores growing institutional acceptance of Bitcoin as a strategic reserve asset. This development could further legitimize cryptocurrency adoption at the state level, potentially influencing other jurisdictions to explore similar initiatives.
Michael Arrington Warns of Physical Risks Following Coinbase Data Breach
Coinbase faces unprecedented fallout from a May 2025 support-agent infiltration that exposed sensitive investor data. TechCrunch founder Michael Arrington issued a grave warning: "This breach will lead to deaths." The attackers demanded $20 million in Bitcoin, highlighting how cybersecurity failures now carry real-world consequences in crypto’s pseudonymous ecosystem.
The incident reveals systemic vulnerabilities when human vectors bypass technical safeguards. Corrupted customer service agents provided unauthorized access—a tactic that bypasses traditional cybersecurity defenses. For an industry built on trust in cryptographic security, the breach marks a sobering escalation from digital theft to potential physical harm.
Vivek Ramaswamy’s Strive Plans to Buy 75,000 Bitcoins from Mt. Gox at Discount
Strive, the investment firm founded by Vivek Ramaswamy, is negotiating to acquire 75,000 Bitcoin tied to the defunct Mt. Gox exchange. The coins are part of legally settled claims from the 2014 collapse, offering Strive a discounted entry to rapidly expand its crypto portfolio.
The deal, outlined in a May 20 filing, involves a partnership with 117 Castell Advisory Group. This strategic MOVE aims to boost Strive’s Bitcoin-per-share ratio ahead of its planned reverse merger with Asset Entities, slated for completion by mid-2025.
