Bitcoin climbed above the $110,000 mark for the first time earlier today, driven by institutional capital and a mix of other positive factors that pushed the cryptocurrency past its previous all-time high.
According to data from Coinbase, bitcoin reached its record high of $110,774 on Wednesday evening , while Binance exchange shows that the cryptocurrency hit $110,724 earlier today.
Bitcoin is holding its elevated position, trading up 3% at $110,387 as of 9:05 p.m. ET time on Wednesday, according to The Block’s bitcoin price page.
“Bitcoin’s surge past $110,000 is being driven primarily by treasury accumulation from firms like Strategy, Metaplanet, and Twenty One Capital,” said Min Jung, analyst of Presto Research. “Unlike previous bull runs, this rally appears to be fueled by institutional and long-term capital rather than retail speculation.”
Michael Saylor’s bitcoin behemoth Strategy led the institutional buying of the cryptocurrency, recently announcing its purchase of 7,390 BTC to bring its total holdings to 576,230 BTC. Strive Enterprises, co-founded by Vivek Ramaswamy, is also looking to build a bitcoin treasury from 75,000 BTC ($8.2 billion) claims from the Mt. Gox estate.
Roshan Robert, CEO of OKX’s U.S. division said the latest rally represents a confluence of factors backing bitcoin that not only includes corporate reserve strategies but also surging ETF inflows, macroeconomic uncertainty and favorable regulatory signals.
“Combine all this with bitcoin’s inherent scarcity, and it creates a perfect storm for a comeback,” Robert said.
Presto’s Jung stated that the research firm still considers this rally to be just the “early innings” of a fundamental shift in how institutions value bitcoin.
“Our 2025 price target of $210,000, first published in late 2024, remains unchanged,” Jung said.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
