Following comments from Fed Chair Jerome Powell hinting at potential rate cuts, Bitcoin’s market cap surged to $2.35 trillion and hit a record high of 1.7% of the global money supply. This growth comes as institutional investors flock to Bitcoin as a hedge against inflation-ridden traditional markets. Powell’s remarks sparked a rally in Bitcoin’s price, which increased by about 2%. Experts believe this shift towards cryptocurrencies is driven by investors seeking refuge from volatile traditional financial markets. SpaceX is a prominent example of an institution allocating significant capital to Bitcoin strategies, with over $1 billion invested in the cryptocurrency. This trend suggests a potential surge in Bitcoin’s adoption as institutional investors become increasingly confident in its long-term value.