Bitcoin has seen its price soar to a record high, fueled by growing optimism over regulatory progress and increasing adoption by financial institutions.
The price of the digital asset tapped the $112,000 price, as bullish momentum swept through the broader crypto market. The price movement saw bitcoin surge above its previous record of $109,528, which it hit in January this year, as well as breaching the psychological $110,000 barrier for the first time, a milestone that has previously faced resistance during bitcoin rallies.
Standard Chartered Head of Digital Assets Research Geoffrey Kendrick noted that market stimulants had moved in unison to fuel Bitcoin’s rally, reaffirming his $120,000 BTC price target by the end of Q2, citing institutional inflows and sovereign accumulation.
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Notably, regulatory optimism, particularly following the U.S. election and expectations of crypto-friendly policies under President Trump, has further fueled the surge. Proposals like the BITCOIN Act for a U.S. strategic Bitcoin reserve and the appointment of regulators supportive of digital assets have boosted investor confidence.
Paul Howard, a senior director of Wincent, a leading high-frequency cryptocurrency market stated that he expects bitcoin to trade higher in the weeks ahead amid increasing regulatory clarity.
“The sense is it’s more likely a case of buy in May and go away than any significant headwinds or selling pressure,” he said.
However, Dr. Kirill Kretov, senior automation expert at CoinPanel, advised caution amid rising open interest and thin liquidity, arguing the market could “turn at any moment.”
Bitcoin price surge, which is over 50% since the U.S. elections, reflects a shift in perception, with major corporations and institutions integrating Bitcoin into their portfolios.
A growing number of major corporations and institutions are integrating Bitcoin into their portfolios, driving its recent surge past $111,000. This trend reflects Bitcoin’s increasing legitimacy as an asset class, fueled by regulatory clarity, ETF inflows, and corporate strategies.
Key players include:
MicroStrategy: Holds over $50 billion in Bitcoin, with 252,220 BTC acquired as part of its treasury strategy, viewing it as a hedge against inflation.
Fidelity: Reports a declining Bitcoin supply on exchanges, indicating institutional accumulation. Its Bitcoin ETF (FBTC) has seen significant inflows.
Tesla: Maintains a portion of its corporate treasury in Bitcoin, with earlier purchases signaling long-term confidence.
Square (Block): Continues to hold Bitcoin and invests in crypto-related infrastructure, emphasizing blockchain technology.
Metaplanet (Japan): Adopted Bitcoin as a treasury reserve asset, mirroring MicroStrategy’s approach.
Over 81 firms globally, have increased Bitcoin holdings by 80% in 2024, per CoinGecko data. Notably, JPMorgan Chase is finally allowing clients to buy Bitcoin. Announcing this move, CEO Jamie Dimon,
“We are going to allow you to buy it,” Dimon said at the bank’s annual investor day on Monday. “We’re not going to custody it. We’re going to put it in statements for clients.”
The decision marks a notable step for the largest U.S. bank, particularly due to Dimon’s history of criticizing the digital currency and the crypto market broadly and is the latest sign of Bitcoin’s entry into mainstream investing. Since August, Morgan Stanley has allowed its financial advisors to pitch some spot bitcoin exchange-traded funds to qualifying clients.
Notably, institutional adoption is further supported by U.S. spot Bitcoin ETFs, which have attracted over $2.2 billion in inflows recently, simplifying access for traditional investors. This institutional embrace, coupled with declining exchange supply (down 3.5% year-over-year to 2.3 million BTC), underscores Bitcoin’s growing role in corporate treasuries and investment portfolios, driving its record-breaking rally.