Bitcoin, the world's largest cryptocurrency by market cap, has hit a new record price of $109,788. This significant milestone places it as the fifth-largest asset with a market capitalization of $2.14 trillion.
Rising Institutional Interest
One of the key reasons for Bitcoin's increase is the growing interest from large institutions. MicroStrategy, now rebranded as Strategy, has added more Bitcoin to its holdings, totaling over 576,000 BTC, which is 2.7% of the total supply. Other companies are following suit, such as Japan’s Metaplanet, which recently acquired 1,004 BTC, raising its total to 10,000 BTC. This rising corporate demand is one reason why many believe Bitcoin still has room to grow.
Government Support and Policy
It's not just companies that are getting involved; governments are stepping in also. In the U.S., the GENIUS Act, which supports clearer stablecoin regulations, is making its way through the Senate. Additionally, President Donald Trump’s executive order to establish a Strategic Bitcoin Reserve further adds to investor confidence. All this has contributed to Bitcoin's market value reaching $2.13 trillion, making it the fifth most valuable asset after gold, Microsoft, Nvidia, and Apple.
Future Prospects for Bitcoin
Looking at Bitcoin's recent rise, veteran trader Peter Brandt believes this is just another step in a larger rally. He thinks Bitcoin could reach $150,000 by August. Famous author Robert Kiyosaki also envisions big things ahead and suggests that Bitcoin might even hit $250,000 this year. Thus, while Bitcoin has already reached a new high, many believe the real breakout is still to come.
The rising interest from institutions combined with government support creates a solid foundation for Bitcoin's future. As new records are marked, many experts expect further growth.
