Bitcoin prices rose during Thursday’s trading, extending gains for the third consecutive day and hitting a new record high by trading above $124,000 for the first time in history.
This historic rally comes amid strong optimism sweeping global markets, particularly with growing bets on monetary policy easing by the Federal Reserve, alongside robust regulatory reforms in the United States — the world’s largest crypto asset market.
Major global companies launched another round of Bitcoin purchases, raising their holdings of the leading cryptocurrency to new record levels, as strong inflows continued into US-listed Bitcoin ETFs.
Price Overview
•On the Bitstamp exchange, Bitcoin rose by $1,157, or 0.95%, to $124,517 — the highest level ever — from an opening price of $123,360, with a low at $123,307.
•At Wednesday’s Bitstamp close, Bitcoin had gained 2.75%, marking a second consecutive daily rise amid record demand for the leading cryptocurrency.
Digital Asset Market Cap
The market capitalization of digital currencies rose on Thursday by more than $35 billion to a total of $4.273 trillion — a new all-time high — amid record Bitcoin prices and Ethereum’s climb to its highest since 2021.
Federal Reserve
Expectations for a 50 basis point Fed rate cut before year-end have now been fully priced in, after weak US labor market data and moderate inflation figures released this week.
Several Fed officials and policymakers expressed the need for near-term rate cuts in response to the US economic slowdown.
President Donald Trump, who has repeatedly criticized Jerome Powell for not cutting rates earlier, increased pressure on the Federal Reserve.
White House spokeswoman Karoline Leavitt stated that the president is considering suing Powell over his handling of renovations at the central bank’s Washington headquarters.
Regulatory Reforms
Since the start of 2025, Bitcoin prices have surged more than 30%, driven by major regulatory wins for the US digital asset sector, particularly after Trump’s return to the White House. He has dubbed himself the “Crypto President,” and his family has significantly expanded investments in the sector.
One major recent decision was an executive order allowing digital assets to be included in 401(k) retirement plans, signaling a more flexible and supportive regulatory environment in the US.
The year 2025 also saw new stablecoin regulations and adjustments to SEC policies to accommodate this asset class, boosting market momentum.
MicroStrategy
On Monday, via X, MicroStrategy co-founder and executive chairman Michael Saylor announced a new Bitcoin purchase of 155 BTC, raising the company’s holdings to a fresh record high.
The purchase, conducted between July 30 and August 10, cost $18 million, at an average of $116,401 per BTC.
Following this acquisition, the company now holds 628,946 BTC at an average price of $73,284 per coin, worth about $46.1 billion.
Metaplanet
Japan’s Metaplanet continued increasing its Bitcoin holdings, acquiring an additional 518 BTC between August 5 and 11 for $61.4 million, at an average of $118,519 per BTC.
After this latest purchase, the company’s holdings reached a record 18,113 BTC worth $1.85 billion, at an average price of $101,909 per BTC.
This move aligns with a similar strategy by US-based MicroStrategy, reflecting growing institutional confidence in digital asset investments.
Strong ETF Inflows
Bitcoin ETFs added about $87 million on Wednesday, marking the sixth straight day of inflows into these US-listed products, with total inflows of around $1.108 billion.
Bitcoin Outlook
•IG’s Tony Sycamore said Bitcoin’s rally is driven by rising confidence in Fed rate cuts, ongoing institutional demand, and Trump’s supportive investment policies for digital assets.
•Sycamore added that a sustained break above $125,000 could send Bitcoin prices toward $150,000.
