Bitcoin Hits Record High
In early Asian trading on Thursday, Bitcoin soared past the $110,000 mark, setting a new all-time high and surpassing its previous peak recorded on January 20, 2025. The cryptocurrency gained over 2.7% intraday, driven by corporate adoption, Wall Street interest, and optimism around U.S. regulatory progress.
Year-to-date, Bitcoin has risen approximately 17%, outperforming other risk assets like U.S. stocks. Notably:
- May 2025 performance: Up nearly 16%.
- Outpaces gold when measured from the U.S. election period.
Ethereum, XRP, and Solana also rallied alongside Bitcoin, with top-10 cryptocurrencies by market cap posting 24-hour gains.
U.S. Stablecoin Legislation Gains Momentum
Bitcoin’s rally coincides with advancements in U.S. stablecoin regulation, fueling hopes for clearer policies under the current administration:
- A bipartisan stablecoin bill is now ready for Senate debate, potentially passing this week.
- Revisions include stricter AML rules, consumer protections, and equal treatment for domestic/foreign issuers.
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Michael Novogratz, CEO of Galaxy Digital, noted: "The shift from SEC-led scrutiny to a pro-crypto stance under Trump has reignited investor enthusiasm."
Corporate Adoption Accelerates
Enterprises are increasingly embracing Bitcoin:
- MicroStrategy (MSTR): Holds over $50B in Bitcoin.
- GameStop: Announced plans to add Bitcoin to reserves in March 2025.
- New ventures like Twenty One Capital replicate MicroStrategy’s investment model.
Bitcoin ETFs and Derivatives
- ETF inflows: U.S. Bitcoin ETFs attracted $3.6B in May 2025.
- Options activity: Surge in demand for $110K–$300K call options expiring June 27.
- Futures: CME’s Bitcoin futures open interest rebounded 23% from April lows.
FAQ
Q: Why is Bitcoin rising?
A: Corporate buying, ETF inflows, and stablecoin regulatory progress are key drivers.
Q: What’s the impact of stablecoin laws?
A: Clarity could boost institutional adoption and reduce market volatility.
Q: How are companies using Bitcoin?
A: As a reserve asset (e.g., MicroStrategy) or for treasury diversification.