Bitcoin Surges Past $120K, Close to Record High
Bitcoin rallied to a price point very near its record high and could set a new record sometime this week.
Quick overview
- Bitcoin (BTC) has increased by 4.5% over the past week, reaching $120,063 and is close to hitting a new record high.
- The recent stock market rally and corporate buying are contributing to Bitcoin's upward momentum, with expectations of reaching $150K or more by the end of 2025.
- Corporate entities, including MicroStrategy, are accumulating large amounts of Bitcoin, leading to significant holdings of $113 billion.
- While Bitcoin has nearly doubled in value over the past year, other cryptocurrencies like Ethereum have also seen substantial growth, with ETH rising by 17.52% this week.
Live BTC/USD Chart
Bitcoin (BTC) added 4.5% over the last week and is now at $120,063 (BTC/USD). It is building up momentum and could hit another record high soon.
Boosted by a stock market rally, Bitcoin is now over 120K and may be able to achieve a new record this week. It has grown more than 1% over the last day and is only 2.4% away from its record high. We expect the coin will break its own record in the next few days barring any significant problems.
BTC/USDThe digital token is also enjoying help from corporate buyers who are purchasing large amounts in the hope that Bitcoin will climb much higher this year. There is speculation that the coin will achieve a high of $150K or more before 2025 is finished, with some analysts expecting significant gains in the coming year as well.
Steady Inflows Gives Bitcoin Upward Momentum
The data shows that corporate entities are buying lots of Bitcoin and holding onto it. Among those is MicroStrategy, which holds more Bitcoin than just about any other Bitcoin owner. Digital asset treasury companies that amass large quantities of the token have accounted for $113 billion in Bitcoin holdings so far, and those numbers are only going up.
There is increased interest in the coin which is not bound by borders and cannot be taxed by tariffs. Despite the rising interest in Bitcoin, most other crypto tokens have not seen the same kind of growth this past week. Only Ethereum (ETH) managed a rally, and what a rally it was. ETH grew by 17.52% over the last week, beating out BTC and making waves in the cryptocurrency market.
Over the last 12 months, Bitcoin has almost doubled in value. If it can do that over the next year, it will achieve a price of around $240 by this time next year. That kind of incredible growth is why Bitcoin has been such a popular investment for corporations, and it will likely continue to be. Investors should take note of what the bigger financial entities are doing with this coin, and they may want to jump on the token while it is still under its previous record high.
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