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Bitcoin Hits Record Highs as Investors and Leaders Push Adoption
Bitcoin crossed $124,000, fueled by Trump’s pro-crypto policies, billionaire investors going all in, and growing institutional momentum. Market watchers see resistance near $127,000 while altcoins gain ground.
Joe G & Money Talks
August 17, 2025 • Estimated Reading Time: 4 minutes
What we will talk about today...
Mexico’s 3rd Richest Man Eyes 100% Bitcoin
Bitcoin Tests Key $127,000 Level Before Path to $144,000
Bitcoin Volume Drops as Altcoin Season Looms
Trump Puts Bitcoin in Pension Funds, Price Hits $124,000
Ricardo Salinas Pliego says 80% of his wealth is already in Bitcoin. He plans to move the rest soon.
[Current exposure]: 80% in Bitcoin, small share in gold and miners
[Net worth]: Over $5 billion
[History]: First bought Bitcoin at $200 in 2013
“I could probably move to 100% Bitcoin. Maybe I need a little bit more time being an old guy.”
Ricardo Salinas Pliego
Bitcoin Tests Key $127,000 Level Before Path to $144,000
Bitcoin hit $124,533 before falling on inflation data. Analysts say $127,000 is the key resistance.
[Support]: Short-term holder cost basis at $107,000
[Resistance]: $127,000 as key breakout zone
[Target]: $144,000 if resistance breaks
“Bitcoin has not yet reached overheated levels, suggesting this rally still has room to run.”
Glassnode
Bitcoin trading volume fell 28%, but its market cap hit $2.34 trillion. Altcoins are gaining share.
[Volume]: $65.16 billion, down 28%
[Market cap]: $2.34 trillion, up despite volume drop
[Dominance]: Fell from 65% to 59%
“The combined market cap of altcoins has climbed more than 50% since July, reaching $1.4 trillion.”
Coinbase Institutional
Trump Puts Bitcoin in Pension Funds, Price Hits $124,000
Bitcoin set a new record after Trump allowed crypto in $9 trillion US pension funds.
[Executive order]: Retirement funds can allocate into crypto
[Institutional push]: 165 companies now hold Bitcoin
[Corporate move]: Trump’s firm raised $2 billion to buy crypto
“Rising prices attract more firms, which in turn push prices even higher.”
Will Owens, Galaxy Digital
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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results