Bitcoin Blasts Through $102K: Governments and Coinbase Want It in Their Vaults

🚀 Bitcoin Hits 102,000 — and This Time It’s Institutional

Bitcoin is back in beast mode. It just smashed through the 102,000 mark, climbing 3.17% in 24 hours, with 73 billion in daily trading volume and a total market cap now over 2 trillion. But this rally isn’t just whales and Twitter hype — it’s governments, ETFs, and billionaires playing long games.

🧠 Armstrong Thinks Big — As in Multi-Million Dollar Big

Coinbase CEO Brian Armstrong isn’t thinking about a 100K ceiling. He’s thinking millions. In a recent statement, he credited 2024’s bull momentum to spot Bitcoin ETFs and sees sovereign accumulation as the next major catalyst.

“We’re talking multi-million-dollar BTC — driven by ETF flows and nation-states,” said Armstrong.

ETF inflows in 2024? 36.2 billion. BlackRock’s iShares Bitcoin Trust (IBIT) is leading the charge, now with 50B AUM, setting the fastest ETF growth record in U.S. history.

🏛️ U.S. and Swiss Governments: Are They Already Buying?

Armstrong says the signs are there: governments are preparing to stack sats. He’s reportedly had conversations with finance officials from Switzerland and beyond about building sovereign Bitcoin reserves.

The U.S. may not be far behind. Senator Cynthia Lummis introduced the Bitcoin Reserve Act, proposing the government buy 200,000 BTC per year over five years. Yes, that’s a million coins held for two decades as digital gold.

Still in Congress — but if passed, it would be the biggest signal yet that America wants in on the future of finance.

🏛️🗽 States Move Faster Than the Feds

While D.C. debates, 13 U.S. states are already moving. Ohio’s Rep. Derek Merrin proposed legislation for the state to accumulate Bitcoin as a reserve asset, hedging against the dollar’s long-term decline.

Dennis Porter, head of the Satoshi Action Fund, says these state initiatives could snowball into a full-blown Bitcoin treasury wave.

💸 Why This Is More Than Just a Rally

What we’re witnessing isn’t just a spike in BTC price — it’s the financialization of Bitcoin at the highest levels.

• ETFs are pouring in billions
• States are writing Bitcoin into their budgets
• Coinbase is betting big on a multi-million-dollar BTC future
• And a digital gold reserve bill is in Congress right now

Bitcoin isn’t just a hedge anymore — it’s turning into a new kind of national reserve currency.

🧠 TL;DR:

• Bitcoin blew past 102K, with 73B in daily trading volume
• Coinbase CEO sees multi-million dollar BTC driven by ETF and sovereign demand
• Senator Lummis’ Bitcoin Reserve Act would let the U.S. buy 1M BTC over 5 years
• 13 U.S. states are drafting Bitcoin reserve legislation
• A new monetary era is forming — and Bitcoin is at the center of it

Welcome to the age of state-backed Bitcoin.