Bitcoin is now a grandfather

Bitcoin was once regarded alternatively as a novelty or a threat to the established financial order. Now it's being accepted as the grandfather of stablecoins and memecoins, and is sought after by global banks. Yesterday, Bitcoin breached $110,000 for the first time, as companies and financial institutions pile into the market. Some analysts pointed to the advancement of stablecoin legislation known as the Genuis Act through the US congress, though it still has some way to go. It had been held up over concerns around memecoins, even as the US president prepares to meet the top holders of his TRUMP memecoin. From Bloomberg: "Bitcoin climbed as much as 3.3% on Thursday to hit a record of $111,878, according to data compiled by Bloomberg. Smaller tokens also rose, with second-ranked Ether at one point up about 5.5%. A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US senate fuelled hopes of greater regulatory clarity for digital-asset firms under President Donald Trump, who is avowedly pro-crypto. Surging demand from Michael Saylor's Strategy -- which has stockpiled over $50 billion worth of Bitcoin -- and a growing list of token hoarders is another driving force behind the rally. Bitcoin's out performance relative to smaller cryptocurrencies is widening. An index that tracks so-called altcoins is down about 40% year-to-date, while Bitcoin is up 17% sofar in 2025."