Bitcoin hits an all-time high as it surges beyond $113,000
Bitcoin continues to crush the record’s record as the major cryptocurrencies from broke $113,000 on Thursday. Binance. After flirting with a new high on Wednesday, the price was over $112,000 according to several exchanges, and Thursday’s surge exceeded previous thresholds, bringing the price closer to $114,000 at the time of publication.
This climb continues a hot summer for popular digital assets that have spent most of the past few months over $100,000. This is the benchmark that we first reached in December 2024 before returning to $75,000 in April.
The months of rally could be largely due to President Donald Trump’s election. The embraced code On the campaign trail, he pledged a set of code-friendly policies, including the government’s strategic reserves that he signed as an executive order after taking office in January.
According to Andy Baehr, managing director at Coindesk Indices, which measures the performance of digital assets, Cryptographic ETF And corporate finances have driven many of the recent price transfers, with long-term holders benefiting. Other popular cryptocurrencies are also gathered Solana It has increased by nearly 6% over the past week Ethereum According to Binance data, it is almost 10%.
Bitcoin Boom
Originally conceptualized in a white paper by the liturgical figure, Mikio, in 2008, Bitcoin served as the first cryptocurrency, or a kind of decentralized currency not controlled by a single entity or government. And while thousands of cryptocurrencies have emerged, Bitcoin continues to have a market capitalization of $2.25 trillion compared to Ethereum’s $340 billion.
Bitcoin prices have spent most of their existence on roller coasters that have increased dramatically and again declined amid hacking, collapse and scandals, but have grown steadily since late 2022, when Crypto Exchange FTX bankruptcy sent the industry into the so-called “winter.” But the real explosion of Bitcoin came after Trump embraced cryptocurrency on the campaign trail. Bitcoin went over $100,000 shortly after the election.
The landscape of thawing regulations and subsequent institutional adoption helped to promote assembly. First, Securities and Trade Commission Approved In early 2024, Bitcoin ETFs were able to put money in exchange-selling cars where investors held cryptocurrency without directly holding themselves. And in recent months, companies that have been in public have it I started to hold it Their Treasury Bitcoin – an approach evangelicalized by the strategy of Michael Saylor, one of the biggest owners of cryptocurrency.
In the case of experimental projects that were first conceptualized as an alternative financial system, Bitcoin is increasingly dominated by publicly available companies and funds. But if the mysterious architect Satoshi reappears, he will become one of the richest people on the planet. His stash is currently estimated at around $100 billion.