$BTC Paraguay has officially declared Bitcoin as legal tender, with President Santiago Peña announcing the move on Twitter. This historic decision aims to promote financial innovation, economic sovereignty, and inclusive growth in the country. Paraguay has reportedly secured $5 million worth of Bitcoin in its national reserves and plans to allow citizens to invest in government-issued bonds using cryptocurrency.

*Key Highlights:*

- *Bitcoin Price Surge*: This news has sparked speculation that Bitcoin's price might reach the long-predicted $125,000 mark. Currently, Bitcoin is trading at $109,462.26, with a 3.81% increase.

- *Institutional Interest*: The announcement coincides with increased institutional interest in Bitcoin, with BlackRock's iShares Bitcoin Trust (IBIT) recently topping $70 billion in assets under management.

- *Authenticity Concerns*: However, on-chain data raises concerns about the authenticity of the announcement, showing the government's linked Bitcoin wallet holds only about $4 and has seen no recent activity. Some users have commented that the President's account might be hacked ¹.

*Market Predictions:*

- *Short-term Price Forecast*: According to CoinCodex, Bitcoin's price is predicted to reach $131,453 by June 16, 2025, representing a 23.37% increase.

- *Current Market Trend*: Bitcoin's current price is $109,462.26, with an open price of $105,440.97 and a high price of $110,530.17 ² ¹.

Let's wait and see how this news impacts the crypto market!