Bitcoin: Toward a Historic Year-End?

Bitcoin consolidates above 100,000 dollars, driven by institutions and the anticipation of the outcome of the “BITCOIN Act.”

Bitcoin in the American Senate Arena

The major bullish catalyst for this end of the year will be the “CLARITY Act,” a bill providing a favorable legislative framework for bitcoin.

This text will officially allocate bitcoin supervision to the CFTC. As a result, financial markets registered with the CFTC will be able to facilitate Bitcoin trading without fear of non-compliance lawsuits. In other words, banks and other large pension funds will have easier access to the spot Bitcoin market.

This will result in increased market depth to complement the volumes already traded via ETFs. There is reason to be optimistic given that ETFs have largely contributed to the 140% increase in bitcoin since their launch.

Furthermore, let’s not forget the “Bitcoin Act.” This is a separate bill introduced in March 2025 by Senator Cynthia Lummis to implement the presidential decree establishing a strategic bitcoin reserve. The law plans to acquire one million bitcoins (~5% of the total supply) over 5 years, i.e., 200,000 BTC per year. The strategy is to sell part of the gold reserves to achieve this.

There is a chance that both bills will be part of a legislative package. This emerged from a key meeting organized by Senator Cynthia Lummis on September 16 in the presence of Michael Saylor.

A final vote is expected by the end of the year, around mid-November. The SEC chairman is currently working with senators to accelerate the process:

The ETF Booster

Speaking of ETFs, note that they have attracted nearly 60 billion dollars since January 2024. Given bitcoin’s appreciation (+140% since its launch), BlackRock’s ETF now alone weighs more than 86 billion dollars.

Bitcoin ETFs are on the verge of surpassing those backed by gold, which were launched twenty years ago. Their success is such that BlackRock has revealed having increased the bitcoin share in its famous Global Allocation Fund by 30%.

The big news in recent days was Vanguard’s turnaround (managing 10 trillion dollars), which will finally allow its 50 million clients to invest in bitcoin.

Recall, Vanguard had chosen not to offer its clients the possibility to buy Bitcoin ETFs (like BlackRock’s IBIT). The reason: the absence of underlying cash flows (like stock dividends or bond coupons).

As a result, Vanguard clients bought bitcoins in an indirect way by purchasing Strategy shares, a “Bitcoin Strategy Company.” Michael Saylor revealed Vanguard was the largest holder of Strategy shares with 10% of the total.

This monumental mistake resulted in the departure of Vanguard’s CEO, replaced by Salim Ramji, who launched BlackRock’s IBIT Bitcoin ETF…

Europe Realizes Bitcoin Is a Reserve Currency

Lines are also shifting on the old continent. Europe’s largest bank published a very telling paper this week. “Bitcoin vs. Gold: The Future of Central Bank Reserves by 2030.”

This 18-page report concludes that there is room for gold and Bitcoin to coexist within central banks’ reserves by 2030. We highly recommend reading it.

It’s inevitable. A technological breakthrough is irreversible. The timing is also perfect as the BRICS move away from the dollar. American monetary hegemony is slowly ending and the world will need to find a new reserve currency. Preferably stateless, existing in finite quantity, and which no country can “freeze.”

The Return of the Money Printing Press

Under presidential pressure, the US central bank has finally initiated a rate cut. Several rate cuts are expected over the coming months.

A rate cut encourages borrowing and investment, thus expanding the money supply. While a rate hike aims to contain inflation.

Donald Trump wants to loosen the monetary grip to rebuild American manufacturing power and reduce the trade deficit. Washington has no choice now that the BRICS are reducing their dollar reserves (in Treasury bonds).

And as everyone knows, opening the credit taps always raises financial assets. Especially if central banks resume Quantitative Easing to force rates down.

This possibility resurfaced as Donald Trump demands aggressive rate cuts. The aim is to reduce the debt servicing burden, regardless of inflation risks.

According to Mizuho Bank, the appointment of Governor Stephen Miran strengthens the scenario of a new QE. Another sign: Nigel Farage’s calls for the Bank of England to do the same, knowing that his Reform UK party leads the polls.

Nigel Farage has promised to add bitcoin to the Bank of England’s reserves if his party comes to power. Kevin Hassett, Donald Trump’s favorite to replace Jerome Powell as head of the Fed, believes bitcoin will “rewrite the rules of finance.”

For all these reasons, there is reason to be optimistic for the end of the year. A new all-time high is guaranteed if the United States passes the “Bitcoin Act.” Don’t miss our article: Bitcoin: Towards New Highs by the End of the Year.