Investors Bet Millions on Bitcoin Price Following Record High

Prediction markets users are wagering millions of dollars on if and when Bitcoin will smash its latest price record, a few hours after the token According to a Polymarket US-based Kalshi users also gambled on Bitcoin’s future price action, pouring roughly $3.5 million into a contract on the token’s year-end price. That betting Meanwhile, crypto-native trading platform Myriad Markets (Myriad Markets is a unit of Dastan, The rash of wagers on Bitcoin’s price action came as the asset smashed its previous price record ahead of U.S. President Donald Trump’s dinner for investors in his meme coin, Official Trump. The dinner, which is scheduled for Thursday, aims to bring out more than 200 $TRUMP holders, who spent between $53,400 and $16.4 million for their seats, CBS MoneyWatch The attendees include Chinese billionaire Justin Sun, who bills himself as the token’s largest holder, as well as foreign investors from Australia and Singapore, among other countries. Other invitees’ identities remain a mystery to the public, but they are largely believed to be mostly foreign nationals—a sticking point for the dinner’s detractors. Bitcoin has retreated and was recently trading below $107,000, down more than 2% over the past hour and roughly flat over the past 24 hours.The total market value of digital assets hit $3.38 trillion on Wednesday, up 1.34% a day ago, according to data provider CoinGecko. The market’s 24-hour trading volume was up nearly 27% as of the time of writing.Edited by James Rubin