This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

It seems fitting that bitcoin’s rise above $103,000 came in the final month of a groundbreaking year for the asset.

You already know about the first US spot bitcoin ETFs in January and Trump’s election win a month ago. Then there was the president-elect’s selection this week of Paul Atkins as SEC chair (who many deem to be a crypto advocate). And Fed Chair Jerome Powell even recently compared bitcoin to gold. 

The fact that gold’s market cap is still nine times larger than bitcoin’s (about $18T to $2T) “should offer additional insight into how much more room there is for…

Read more on Blockworks