Bitcoin’s Historic Surge: What’s Fueling the Boom—and Could $150K Be Next?

Bitcoin, the first decentralized currency, has hit a fresh all-time high in pricing after surging beyond 6 per cent on Friday, signalling renewed investor demand.

The world’s top cryptocurrency reached above USD 118,000 (£87,000) for the first time in its history, having traded below USD 80,000 as recently as April.

The broader crypto market joined the rally, with Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) each climbing over 7 per cent, fueling excitement among investors.

Bitcoin’s Market Cap

Bitcoin’s meteoric rise has propelled its market capitalization beyond USD 2.3 trillion, surpassing tech behemoths like Alphabet (Google) and Meta. While still trailing gold’s estimated $22 trillion market cap, Bitcoin has now overtaken silver, cementing its status as a formidable asset class. The cryptocurrency’s dominance reflects growing investor confidence amid shifting economic landscapes.

Also Read: Silver Hits Historic ₹1.11 Lakh/kg in India: What's Driving This Rush?

The rally traces back to April 2, when former President Donald Trump’s “Liberation Day” announcement roiled traditional markets. As investors sought refuge from macroeconomic uncertainty, Bitcoin emerged as a prime hedge, drawing both institutional and retail interest. The cryptocurrency’s appeal as a decentralized store of value has only grown amid a weakening dollar, rising treasury demand, and sovereign credit downgrades.

Bitcoin’s strength is further underscored by long-term holders, who now control over 74 per cent of the total supply—a 15-year high. Corporate treasuries are also diving in, with BlackRock alone holding over USD 65 billion in BTC. This institutional embrace signals Bitcoin’s transition from a speculative asset to a mainstream financial staple.

Crypto Regulatory Framework

Improved regulatory frameworks are paving the way for Bitcoin’s integration into traditional finance. As governments and institutions clarify crypto policies, Bitcoin’s case as a legitimate asset grows stronger. Further, Bitcoin's market cap has now surpassed the Taiwanese and Australian dollars. Meanwhile, Coinbase has inked a partnership with Perplexity AI to deliver real-time crypto market data to traders. Robinhood officially launches ETH & SOL staking in the US.