Bitcoin soars above USD$110,724, sets new all-time record
Bitcoin has surged past a milestone price threshold, reaching a new all-time high above USD$110,724 and advancing its market capitalisation beyond USD$2.15 trillion. The landmark comes on the 15th anniversary of "Bitcoin Pizza Day," a significant occasion that marks the cryptocurrency's extraordinary ascent from novelty status to global financial powerhouse.
Industry experts cite a combination of record institutional inflows, growing policy support, and increasing mainstream adoption as key drivers underpinning this rally. With the approval of spot Bitcoin exchange-traded funds (ETFs) in major jurisdictions such as the United States, Europe and Asia-Pacific, mechanisms for regulated investment in Bitcoin have become widely available, channeling unprecedented capital into digital assets.
According to the latest market data, spot Bitcoin ETFs facilitated over USD$431 billion in net inflows during the first quarter of 2025, bringing Bitcoin exposure to a far broader pool of investors than ever before. Large financial entities including Abu Dhabi's sovereign wealth fund and the Swiss National Bank have expanded their holdings via these vehicles, while corporate giants like MicroStrategy—now holding over 576,000 BTC—Tesla, Block, and Metaplanet continue to bolster their Bitcoin reserves as part of their treasury management strategies.
James Quinn-Kumar, Director of Community Engagement at Binance Australia and New Zealand, reflected on Bitcoin's transformation into a mainstream financial asset: "It's no longer just for early adopters or crypto 'whales.' Bitcoin has become a strategic asset for institutions, companies, and everyday investors alike. This milestone firmly cements its place in the financial mainstream." According to Quinn-Kumar, the integration of Bitcoin into diverse portfolios is now as routine as allocations to long-established stores of value.
Thomas Perfumo, Global Economist at Kraken, commented on the significance of this momentum, observing that "Bitcoin's new all-time high is a clear signal yet that this crypto bull market has further room to run. Recovering equity markets, heavyweight ETF flows and the ever-present corporate demand together create a feedback loop that is propelling Bitcoin higher." Perfumo noted that net ETF flows picked up when Bitcoin was around USD$87,000, and have since reached a record USD$7.3 billion year-to-date, further fuelling the upward trend.
Alex Nagorskii, Portfolio Manager at DigitalX, highlighted the role of the prevailing macroeconomic environment: "The bull run for Bitcoin, initially fuelled by the favourable regulatory environment under President Trump, was almost derailed by the uncertainty surrounding his trade war with China. However, market concerns have eased following a recent breakthrough in trade negotiations, which includes a 90-day agreement to reduce mutual tariffs." Nagorskii also pointed to central bank easing and a weakening US dollar as fundamental drivers of the current rally, drawing a parallel with gold's price action under similar conditions.
Regulatory developments have further supported investor sentiment. After a bout of volatility in April, which saw prices dip to USD$74,000 amidst fresh trade tariffs, the Trump administration's decision to pause those measures has provided stability. Additional reforms in the US have eased reporting requirements and lifted restrictions on banking for cryptocurrency businesses, expanding possibilities for broader adoption and investment.
The timing of Bitcoin's latest breakthrough coinciding with Bitcoin Pizza Day underscores the asset's extraordinary journey. On this day in 2010, 10,000 BTC were exchanged for two pizzas—then valued at a mere USD$41 but now worth over USD$1 billion. This transformation, according to Quinn-Kumar, is "a signal of profound market evolution," reflecting the degree to which Bitcoin has entered mainstream consciousness.
With momentum still building, industry commentators believe that the factors driving Bitcoin's ascent—robust institutional demand, supportive policy, and shifting investor attitudes—remain firmly in place. Unless these tailwinds subside, analysts contend that conditions are likely to remain favourable for further gains, as Bitcoin continues to cement its role in both retail and institutional investment strategies worldwide.
