Bitcoin prices continue to rise, reaching an all-time high of $122,838 amidst several influencing factors, including large companies' investment strategy shifts.
Record Price Surge of Bitcoin
On July 15, Bitcoin reached a new record of $122,838. The trading started with a strong upward movement, and analysis indicates that Bitcoin broke past resistance at $109,000, with ongoing upward momentum in the coming days.
Vanguard's Changing Stance on Bitcoin
The Vanguard Group, managing approximately $10 trillion in assets, has historically expressed caution towards Bitcoin. However, recent SEC filings revealed that Vanguard holds over 20 million shares of Strategy Inc., which, in turn, owns 601,550 Bitcoins, making Vanguard the largest investor in the company.
El Salvador's Bitcoin-Backed Bonds
The government of El Salvador has successfully issued $500 million in Bitcoin-backed bonds to fund its infrastructure, with settlements processed entirely on the Liquid Network. This marks the first instance of sovereign bonds being fully settled on-chain.
The rising Bitcoin price, changes in the stance of major investment firms, and the successes seen in El Salvador underscore the growing integration of Bitcoin into financial systems and investments.
