Today's crypto news to know
Could soaring debt send Bitcoin to US$1 million by 2030?
Prominent voices are calling for US$1 million Bitcoin by the end of the decade, a Cointelegraph post shows.
ARK Invest CEO Cathie Wood sees Bitcoin hitting US$1.5 million by 2030 in a high-conviction "bull case" scenario, driven upward by institutional adoption and the coin's unique monetary properties.
Robert Kiyosaki has echoed the million-dollar prediction, linking it to surging US debt and potential economic collapse, which he says will push investors to safe-haven assets like Bitcoin, gold and silver.
“I strongly believe, by 2035, that one Bitcoin will be over US$1 million, Gold will be US$30,000, and silver US$3,000 a coin,” the financial author posted on X, formerly Twitter, in mid-April.
“We have been quite bullish over the last five or six weeks. We have been bearish coming out of the Trump inauguration in February, but we turned quite bullish,” 10x Research CEO Markus Thielen told Cointelegraph on May 22.
If momentum continues, 2025 could mark Bitcoin’s most aggressive bull run to date. Still, volatility remains a key wildcard, especially as political and macroeconomic dynamics evolve.
Trader behind US$1 billion Bitcoin bet goes all in on PEPE memecoin
Pseudonymous trader "James Wynn," better known as “moonpig” on the decentralized exchange Hyperliquid, has become one of the most talked-about crypto traders after flipping from a billion-dollar Bitcoin bet to a US$1 million leveraged bet on memecoin PEPE. Days ago, Wynn closed a US$1.2 billion Bitcoin long position with a US$17.5 million loss, then doubled down on a US$1 billion short position using 40x leverage, netting US$3 million as Bitcoin dipped.
After posting about US$25 million in total profit from his trading spree, Wynn announced he’s walking away from perpetual trading. This type of trading involves derivatives contracts without an expiry date.
His latest PEPE trade, however, has already gained US$500,000 as the token jumped 6 percent in just a few hours.
The on-chain transparency of Wynn’s trades has captivated X users, turning him into a meme icon.
Strategy acquires more Bitcoin, faces legal challenges
Michael Saylor's Strategy (NASDAQ:MSTR) has acquired an additional 4,020 BTC.
They were purchased between May 19 and 23 for US$427.1 million, as per a Monday announcement. These latest purchases were made at an average price of US$106,237 per BTC.
This marks Strategy's fourth Bitcoin acquisition in May, bringing its total holdings to 580,250 BTC, acquired for approximately US$40.6 billion at an average price of US$69,979 per coin.
This Bitcoin acquisition occurred after Strategy director Jarrod Patten sold 2,650 Strategy shares worth nearly US$1.1 million between May 16 and 21, according to a report filed by Strategy on May 22.
Meanwhile, Strategy's shares were down by over 10 percent last week, falling after a class-action lawsuit filed on May 16 alleged the misrepresentation of Bitcoin investments. The plaintiffs are seeking to recover losses for shareholders purportedly affected by securities fraud between April 2024 and April 2025.
Trump Media's potential US$3 billion crypto acquisition plan
Trump Media and Technology Group (NASDAQ:DJT) is planning to raise US$3 billion to buy Bitcoin and other cryptocurrencies, according to a Monday report from the Financial Times.
According to the report, which cites six anonymous insiders, Trump Media is aiming to raise US$2 billion in fresh equity and another US$1 billion through a convertible bond.
ClearStreet and BTIG are among the brokers that could serve as underwriters on the deal.
The official announcement could come during Bitcoin 2025, taking place in Las Vegas this week. US Vice President JD Vance, Donald Trump Jr. and Eric Trump are expected to make appearances, along with David Sacks. The Bitcoin 2024 conference, which was held in Nashville, was where Trump made a highly publicized announcement about making the US the crypto leader of the world, a major turning point for his engagement with the crypto community.
Neither the Trump administration nor representatives for Trump Media have confirmed the story.
Musk starts X Money beta testing
Elon Musk has begun beta testing of X Money, a payment and banking app he is building into his social media platform X. The news was confirmed via social media post on Sunday (May 25) from an account called Tesla Owners Silicon Valley, which is not owned or operated by Musk or by Tesla (NASDAQ:TSLA); however, Musk confirmed the test, writing that access will be “very limited” due to the “extreme care” that must be taken with users’ savings.
The features and functionalities of X Money during this initial beta testing phase remain undisclosed, but integration of a payment and banking app into X represents a significant step toward Musk's vision of an “everything app."
Pakistan to dedicate 2,000 MW to Bitcoin mining, AI infrastructure
Pakistan’s finance ministry announced that it will allocate 2,000 megawatts (MW) of electricity to power Bitcoin-mining and artificial intelligence data centers. The initiative is being spearheaded by the government-backed Pakistan Crypto Council and is part of a national plan to monetize surplus electricity and modernize the economy.
Officials say the plan will not only alleviate grid imbalances, but also create tech-focused jobs and attract foreign investment. This marks one of the most ambitious state-backed crypto infrastructure moves by a developing country.
If successful, it could help position Pakistan as a regional hub for digital assets and artificial intelligence development. It also comes amid wider energy reforms aimed at revitalizing the nation’s troubled power sector.
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