The ProShares Bitcoin Strategy ETF (BITO) closed on January 14th up 3.08% at $23.44, driven by a 2.06% rise in Bitcoin's price to $96,457.38. Bitcoin's upward momentum was fueled by a lighter-than-expected inflation report, which has increased risk appetite among investors, allowing Bitcoin to rebound above the $96,000 mark. This recovery was further supported by comments from SEC Chairman Gary Gensler, who likened Bitcoin's potential long-term value to gold, reinforcing its appeal as a speculative asset with global interest. Additionally, significant institutional interest, such as Intesa Sanpaolo's purchase of Bitcoin, has signaled growing acceptance of digital assets within traditional finance, contributing to the positive sentiment.