Bitcoin Prices Soar to New Heights: Record at $109,487

Bitcoin surged to a remarkable all-time high of $109,487, overtaking Amazon to become the fifth-largest asset by market capitalisation. Institutional investors like BlackRock and Strategy are heavily accumulating Bitcoin, which now boasts a market cap of $2.13 trillion. Prominent trader Peter Brandt suggests it may reach $150,000 by August, while other analysts and investors share bullish predictions about Bitcoin’s future.

Bitcoin (BTC) has made headlines recently as it not only broke its previous record but soared to an astounding $109,487, according to data from CoinMarketCap. This comes after the cryptocurrency jumped from an intraday low of about $105,135, marking a significant milestone in its trading history.

The price spike means Bitcoin has officially surpassed Amazon, becoming the fifth-largest asset by market capitalisation. With a market cap now at $2.13 trillion, Bitcoin is now only below gold, Microsoft, Nvidia, and Apple in the rankings of global assets. Quite the status shift.

This surge in Bitcoin’s price is attributed in part to increased interest from institutional investors. For instance, BlackRock’s IBIT ETF has seen inflows for a remarkable 24 out of the previous 25 days, with the ETF holding over 636,000 BTC at this point. This trend shows no signs of slowing down.

Another big player in the market, Strategy, has been consistently adding to its holdings, recently acquiring 7,390 BTC, bringing their grand total to 576,230 BTC. Their investment is now valued with an unrealised profit of a whopping $22.7 billion, reflecting the growing momentum of Bitcoin accumulation across other firms too.

Corporate interest continues to grow as the Japanese firm Metaplanet recently added 1,004 BTC to its treasury, boosting its total to 10,000 BTC. Likewise, Basel Medical Group has indicated interest in Bitcoin for their financial reserves.

In terms of institutional momentum, Bitcoin ETFs saw nearly $1 billion in inflows over just two trading days this week. This is telling of the rising demand from traditional financial institutions. Joe DiPasquale, CEO of BitBull Capital, commented, “Bitcoin is pushing toward new highs with strong tailwinds behind it—this reflects a structural shift in how investors are viewing Bitcoin.”

Expert price predictions are also making waves. Veteran trader Peter Brandt has theorised that Bitcoin could reach between $125,000 and $150,000 by the end of August. While he believes current all-time highs aren’t as critical as they are often made out to be, he is positively positioned on Bitcoin moving forward.

Crypto analyst Titan of Crypto remains optimistic about Bitcoin returning to a target of $135,000 by 2025. He exclaimed, “The plan is unfolding perfectly,” suggesting a long-term growth trajectory.

Moreover, Michael Saylor, co-founder of Strategy, advised potential investors not to wait, stating, “If you’re not buying Bitcoin at the all-time high, you’re leaving money on the table”. He sees Bitcoin as a hedge against risks tied to physical assets, further driving home its growing importance in the financial landscape.

Predictions from Bitcoin maximalist Robert Kiyosaki have been even bolder, suggesting values might soar to between $500,000 and a staggering $1 million amidst fears of hyperinflation in the US economy.

Lastly, Bitcoin’s positive momentum is being reinforced by progress in legislation in Washington as the US Senate has taken steps towards federal stablecoin framework legislation. Prominent figures, like David Sacks, have noted how these developments coincide with Bitcoin reaching its latest high—solidifying its position in mainstream finance. As for Bitcoin’s current price, it sits at $109,378 on Coinbase, with earlier peaks hitting $109,800 during today’s trading activity.