Bitcoin has reached a new all-time high, breaking past $111,000 in early trading on Thursday. The cryptocurrency peaked at $111,886.41, according to Coin Metrics, before settling just below $111,000. This impressive surge came even as U.S. stock markets faced a downturn, showing Bitcoin’s growing strength as an independent financial asset.
Experts credit this rally to a mix of strong momentum, optimism around crypto regulation in the U.S., and a noticeable rise in institutional investment. James Butterfill, head of research at CoinShares, noted that many investors are turning to Bitcoin as a safe store of value during uncertain economic times. This trend is especially strong as traditional markets remain shaky.
Additionally, the recent downgrade of the U.S. credit rating by Moody’s has pushed more people toward Bitcoin. Investors are increasingly seeing the cryptocurrency as a way to protect their money against instability in fiat currencies like the U.S. dollar. Bitcoin’s appeal grows even stronger when traditional financial systems show signs of weakness.
Regulatory developments are also playing a key role. The GENIUS Act, a bill focused on stablecoin regulation, has cleared a major Senate vote, which has been seen as a positive step by the crypto community. This progress signals that clearer and more supportive laws for digital assets may soon become reality, boosting investor confidence even more.
Support from high-profile figures is also helping fuel the rally. Former U.S. President Donald Trump and investor David Sacks have spoken positively about crypto, while JPMorgan CEO Jamie Dimon recently announced that the bank will now allow clients to buy Bitcoin—despite previously criticizing it. This shift marks a significant moment for mainstream adoption.
Bitcoin’s strong performance, even as the Nasdaq index fell, suggests that investors are starting to view the digital asset as a reliable hedge. As global markets remain volatile, Bitcoin’s role as a financial safe haven may continue to grow in the eyes of investors worldwide.