Bitcoin To Pass 125k This Month, Polymarket Bettors Predict
The majority of Polymarket bettors are predicting that Bitcoin will hit at least $125,000 in value this month, a new poll on the decentralized prediction market shows.
Polymarket Bettors Back $125K Bitcoin Threshold
According to the poll, 34% of Polymarket bettors believe that Bitcoin will cross the $125,000 threshold by the end of July.
In contrast, just 11% of the poll’s participating bettors predict that the cryptocurrency will rally above $130,000 this month.
Meanwhile, just 3% and 1% of the decentralized prediction market’s bettors believe that Bitcoin will cross the $140,000 and $150,000 marks, respectively.
Crypto Legislation Comes Into Focus for Policy Proponents
News of the Polymarket users’ predictions comes just one week after Bitcoin reached its all-time high of over $123,000 during a pivotal moment for crypto legislation in the United States.
On Friday, U.S. President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law during an afternoon bill signing at the White House.
“Let me say, the entire crypto community, for years you were mocked and dismissed and counted out,” Trump said. “You were counted out as little as a year and a half ago—but this signing is a massive validation.”
Republican Party officials dubbed the push ‘Crypto Week,’ and the House of Representatives was also able to advance the CLARITY Act and the Anti-CBDC Act despite a failed procedural vote on July 15.
Truth Social Bolsters Bitcoin Treasury Holdings
Truth Social parent organization, Trump Media and Technology Group Corp, announced on July 21 that the company had amassed over $2 billion in purchases in its Bitcoin Treasury, potentially bolstering bullish attitudes toward the cryptocurrency.
“These assets help ensure our Company’s financial freedom, help protect us against discrimination by financial institutions, and will create synergies with the utility token we’re planning to introduce across the Truth Social ecosphere,” Trump Media’s CEO and President Devin Nunes said.
As of Monday afternoon, Bitcoin is hovering around $116,000.
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