Schwab Network Bitcoin Bounce Back: What's Driving Gains this Week
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May 29, 2025 Dan Novaes, Co-founder and CEO of Mode Mobile, dives into Bitcoin's recent fluctuations and the factors propelling its potential gains. He highlights over $10.8B in inflows and institutional interest as key drivers for the cryptocurrency. Dan elaborates on the GENIUS Act and its implications for stablecoins, Ethereum, and XRP. The conversation also touches on regulatory challenges and the need for stability to foster future growth in the crypto landscape, alongside an innovative smartphone service that rewards app usage.
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Institutional Money Boosts Bitcoin
- Bitcoin's recent price rally was driven more by institutional money than retail investors this time.
- Support from companies and upcoming government involvement are key factors behind the gains.
Dollar Cost Average Bitcoin
- Dollar cost average your Bitcoin purchases to manage volatility and capitalize on dips.
- Bitcoin has shown resilience and even mimicked gold during market fluctuations recently.
Stablecoins and Dollar Dominance
- The Genius Act aims to regulate stablecoins, treating them as digital dollars backed by US treasuries.
- This regulation helps preserve dollar dominance by integrating stablecoins into government strategy.