Bitcoin hits record $124,480 on corporate buys, US policy boost
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Bitcoin surged to an all-time high on Thursday, hitting $124,480, as a wave of corporate purchases and policy tailwinds from the United States fueled investor demand for digital assets. The cryptocurrency’s 1.3 percent gain in early trading brought its monthly climb to nearly 7 percent, cementing its role as a global barometer of risk appetite in financial markets.
The rally comes in the wake of an executive order from US President Donald Trump allowing retirement plans to invest in cryptocurrencies and other alternative assets – a policy shift that analysts say could open the $9 trillion US retirement market to bitcoin. The move is expected to drive substantial institutional inflows, bolstering the coin’s liquidity and stability.
Market sentiment was also buoyed by the high-profile debut of cryptocurrency exchange Bullish on the New York Stock Exchange. Backed by billionaire investor Peter Thiel, the platform raised $1.1 billion in its initial public offering on Wednesday. Shares opened at $37, spiked to $118 during the session, and settled at $68, underscoring Wall Street’s renewed appetite for crypto-linked equities.
The latest bull run has been amplified by so-called “bitcoin treasury” companies, which acquire digital assets as part of their corporate strategy. These firms, often raising capital through debt or equity, see bitcoin as both a store of value and a tool to lift market capitalization.
US bitcoin proponent Michael Saylor’s Strategy remains a leader in this trend, while Trump’s family-owned media group reportedly raised $2 billion this summer to accumulate the asset. Other players are expanding into alternative tokens: US-listed SharpLink Gaming recently secured $400 million to buy ether, which has climbed 27 percent this month to a record $4,788.
Bitcoin’s price has now risen 30 percent year-to-date, with analysts attributing the gains to a confluence of institutional adoption, corporate accumulation, and supportive US regulatory developments.
