Bitcoin sets new record, reaches close to $112,000 – Crypto world is in full swing again
The world’s largest cryptocurrency Bitcoin has once again created history. Late Wednesday night, it touched an all-time high of $111,988.90, which is the highest level ever. Currently, it is trading at $111,259 with a gain of 0.4%. Since the beginning of this year, Bitcoin has seen a gain of about 18%.
Why is the price of Bitcoin increasing?
This tremendous rise of Bitcoin is not just a normal jump, but there are many big reasons behind it. The most important is institutional demand i.e. the growing interest of institutional investors. Earlier, when the market cap of Bitcoin was $100-200 billion, very few professional investors showed interest in it. But now, when this asset has crossed the value of trillion dollars, almost every big financial investor is ready to invest money in it.
Anthony Pompliano, founder and CEO of Professional Capital Management, wrote in a letter to his investors on this occasion,
“Bitcoin is the only asset that becomes less risky the bigger it gets.”
Trump’s Crypto-Friendly Policies gave a boost
The changing policies of the US government have also played a big role in this flight of Bitcoin. Especially the crypto-friendly policies of the Trump Administration have given new energy to digital assets.
Trump Media & Technology Group, run by Trump’s family, has recently made a filing with the US market regulator (SEC) in which they said that they are going to launch an Exchange Traded Fund (ETF). This ETF will invest in many crypto tokens like Bitcoin, Ethereum (Ether), Solana and Ripple.
This move is expected to give a big legal and financial recognition to the crypto sector, which can attract more investors to it.
Altcoins and Crypto Stocks also ran
The impact of this rally of Bitcoin was not limited to itself, but other cryptocurrencies and crypto-related stocks also rose sharply.
Ethereum (Ether), the second-largest digital coin by market cap, reached a one-month high of $2,794.95 and was then trading at $2,740.99 with a gain of 5.4%.
Strategies, a company co-founded by Michael Saylor and the first major company to start holding Bitcoin in its treasury, saw its stock rise 4.7% to $415.41.
At the same time, Coinbase Global, which is the largest crypto exchange in the US, its stocks rose 5.4% to $373.85.
What does the future of Bitcoin say?
Experts believe that this is just the beginning. As regulatory clarity is increasing and big financial institutions are showing interest in it, Bitcoin prices may see an even sharper jump.
Bitcoin is no longer just a speculative asset, but it is slowly becoming a mainstream financial instrument. Due to this, everyone from retail investors to hedge funds and pension funds are preparing to invest in it.
Conclusion
Bitcoin reaching close to $112,000 is not just a figure, but it is a sign that a new era has begun in the world of digital finance. If such trends continue, the day is not far when Bitcoin and other crypto assets will become a part of our everyday financial world.