Bitcoin has reached a historic milestone, surging past the $122,000 mark for the first time as a powerful combination of institutional investment, favorable regulatory signals, and bullish investor sentiment continues to propel the cryptocurrency market to new heights.
Trading in Asia on Monday saw Bitcoin touch a record high of $122,562.4 before settling slightly lower at $121,560. This marks a 30% increase year-to-date, allowing the digital asset to outpace even gold, which has gained roughly 27% over the same period.
Much of this explosive momentum is attributed to the growing institutional embrace of digital assets. Japanese firm Metaplanet Inc., originally a hotelier, expanded its crypto treasury with the acquisition of 797 more Bitcoins, bringing its total holdings to 16,352 BTC. This move cements its position as the fifth-largest corporate holder of Bitcoin.
U.S.-based institutional activity is also playing a significant role. Spot Bitcoin ETFs in the country have seen unprecedented inflows in recent weeks, with major financial players like BlackRock and Fidelity continuing to increase their exposure to crypto markets. Analysts noted that July’s trading volume is already tracking to match or surpass May’s figures, following a quieter June.
The ongoing rally coincides with heightened anticipation around “Crypto Week” in Washington, a pivotal event where the U.S. House of Representatives is set to deliberate on landmark bills, including the Genius Act, the Clarity Act, and the Anti‑CBDC Surveillance State Act. If enacted, these measures could reshape the digital finance landscape by providing regulatory clarity for stablecoins, crypto custody, and other digital asset-related services.
Adding to the bullish backdrop, a strategic meeting organized by a top regulatory body in Shanghai last week suggests that China may be re-evaluating its hardline stance on cryptocurrencies. Although trading remains banned, the meeting focused on stablecoins and digital currency policy, hinting at a possible policy recalibration.
