Bitcoin’s climb past the $100,000 mark is a watershed moment in the evolution of crypto-currencies, symbolising their growing acceptance as a legitimate asset class. What was once dismissed as an experiment by a small community of technologists has now captured the attention of institutional investors, governments, and mainstream finance. Yet, while this achievement deserves recognition, it also raises critical questions about the future of digital currencies and the challenges they face. The un precedented surge in Bitcoin’s value is driven by a confluence of factors. Institutional adoption has been pivotal, with major players pouring billions into the crypto-currency market.

The approval of Bitcoin exchange-traded funds has made it easier for investors to gain exposure to digital assets, signalling a shift towards the normalisation of crypto-currencies. Moreover, the emergence of political support, including from influential policymakers and leaders, has provided a regulatory tailwind, fostering optimism about a........

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