Bitcoin sets a new all-time high at $124,474 and climbs into the global top-5 by market cap
Late on 14 August, Bitcoin printed a fresh record at $124,474. By market value it leapfrogged Google, moving into fifth place among the world’s largest assets.
The rally is being driven by steady ETF inflows and a tighter post-halving supply profile. Capital rotation out of altcoins into BTC accelerated as retail interest picked up on the headline new highs.
Monero and the 51% Attack by Qubic
Throughout the week, the community has been debating a possible 51% attack on the Monero network by the Qubic mining pool.
Some participants are convinced that control over the hashrate has already been achieved, while others dismiss it as PR, claiming the 51% threshold has not been crossed.
If control is established, it would open the door to rewriting the blockchain, executing double-spends, and censoring transactions — a direct blow to XMR’s decentralization.
While users argue over the implications, some exchanges have temporarily suspended Monero deposits and withdrawals.
Corporates and funds bought 371,111 BTC year-to-date — 3.75× more than miners produced
Treasuries of public companies and institutional funds continue to increase their BTC holdings, following the “Bitcoin as a treasury asset” strategy. Since the start of the year, they have purchased 371,111 BTC — 3.75 times more than the total mined supply over the same period. The largest spot ETFs have already accumulated nearly $151 billion worth of bitcoin, representing 6.47% of all coins in circulation. This supply shortage amplifies the impact of every inflow and supports a medium-term bullish scenario.
At the same time, U.S. Treasury Secretary Scott Bessent stated that bitcoin permanently confiscated by the federal government will become the foundation of the Strategic Bitcoin Reserve. The Treasury is also considering budget-neutral ways to acquire additional BTC to expand the reserve and make the United States the “Bitcoin superpower of the world.”
Physical attacks on crypto holders rise amid KYC data leaks
Analysts report a pickup in real-world crimes against crypto owners, a pattern that tends to intensify in bull markets. Criminals are leveraging troves of leaked KYC files from centralized platforms to identify targets for kidnappings and private-key extortion. More than 80 million records are circulating, including over 2.2 million with home addresses. The risk is not limited to whales — smaller retail investors have also been targeted, making operational security and physical safety a priority.
BTC volatility drops to a two-year low and sits well below prior bull-market norms
Three-month realized volatility has fallen to 29.79%, a level last seen in September 2023. In previous bull cycles, this metric often oscillated in the 80–100% range; this time it has remained below 50% for an extended period. Deep liquidity and the smoothing effect of ETF flows are helping to compress swings. Lower volatility improves conditions for corporates and conservative allocators, even as it narrows short-term trading opportunities.
Nvidia and AMD to remit 15% of China AI-chip sales to the U.S. budget
Sales into China are resuming under a structure that requires a 15% revenue payment to the U.S. Treasury. Forecasts suggest Nvidia could ship over $15 billion worth of processors by end-2025, while AMD may reach about $800 million. That implies more than $2 billion in potential receipts for the government, excluding second-order supply-chain effects. For crypto, the impact is indirect but relevant, since GPU pricing and availability shape AI infrastructure and some compute-driven blockchain projects.
Week’s takeaway
Fresh all-time highs arrived alongside unusually subdued volatility, underpinned by structural ETF demand and post-halving supply constraints. At the same time, KYC-driven physical threats are rising, reinforcing the need for both digital and real-world security practices. Developments in AI-chip policy continue to influence broader risk sentiment and liquidity conditions.
