On December 16, Bitcoin reached a new all-time high of over $107,000, driven by factors including new flows into US BTC ETFs, increased global usage, and institutional interest, reflecting market optimism.
Rising Popularity of Bitcoin ETFs
Yesterday, Bitcoin ETFs recorded their 13th consecutive day of inflows at nearly $637 million. Since November 27, crypto products have reached almost $6 billion in inflows, according to data from SoSoValue. As of December 16, BTC ETFs surpassed $120.7 billion in total net assets and topped $36.2 billion in cumulative flows since their January launch.
BTC Purchases by Semler Scientific and Riot Platforms
Companies continue to actively purchase Bitcoin. Eric Semler, Semler Scientific's chair, announced yesterday that the company had bought 211 BTC for $21.5 million at $101,890 per coin. Riot Platforms, a Bitcoin mining company, also purchased 667 BTC at an average price of $101,135 per coin. These transactions increased the company's Bitcoin holdings to 17,429 BTC valued at $1.8 billion.
Institutional Interest and Global Adoption of BTC
The growth of institutional interest and the establishment of Bitcoin reserves continue, with MicroStrategy's inclusion in the Nasdaq 100 amplifying this influence. The United States, Russia, and Japan have announced plans to create Bitcoin reserves, indicating increased adoption of the cryptocurrency.
The increased adoption and overall market optimism pushed the BTC price above $107,000 on December 16, setting a new record.
