Bitcoin roared past $118K this week, and the Swan Private team broke down what’s driving the surge. With retail interest muted and Google search trends still near 2023 lows, this rally appears fueled by institutions and corporate treasuries. The team debated whether Bitcoin could hit $131K before a 10% pullback or if a healthy correction is already underway. They explored the rise of Bitcoin treasury companies like Sequans, which recently adopted a Bitcoin strategy with Swan’s guidance, and discussed how these vehicles could funnel trillions in institutional capital into Bitcoin. The panel also reacted to Elon Musk’s “Fiat is hopeless” tweet, Trump’s push for rate cuts, and Germany’s $3 billion Bitcoin blunder.