Bitcoin Price Sets New Record High of $118,000
The price of Bitcoin has surged to a new all-time high, crossing $118,000 for the first time. This rise comes amid global economic and geopolitical uncertainty, prompting growing speculation that investors are starting to view Bitcoin as a safe-haven asset, much like gold.
The rally gained momentum after Donald Trump’s “Liberation Day” announcement on April 2, when he introduced a broad package of tariffs. While stock markets dipped, Bitcoin began climbing from around $70,000, helped further by Trump’s executive order to create a strategic bitcoin reserve in the U.S., which he called “a virtual Fort Knox for digital gold.”
The move has pushed other governments and institutions to take Bitcoin more seriously, strengthening its position in long-term economic strategies. “Bitcoin is being pulled into the core of national economic thinking in the US – the world’s largest economy – and also corporate treasury policy, and institutional portfolios,” said Nigel Green, CEO of deVere Group, adding:
“When a sitting administration is weighing bitcoin as part of sovereign reserves, that reshapes the global risk framework. It doesn’t just legitimize bitcoin, it forces others – institutions and governments alike – to act.”
Although known for its volatility, Bitcoin has recently traded within a tighter range of $100,000 to $110,000. Its limited supply of 21 million coins continues to draw comparisons to gold.
“Bitcoin is showing why it’s in a class of its own,” said Roshan Roberts, CEO of OKX US, adding: “As trade tensions flare and altcoins stumble, institutions are treating BTC as a macro hedge and a maturing asset class. July will test markets, but bitcoin looks built for it.”
Industry sentiment remains mostly optimistic, with a survey of crypto analysts predicting an average price of $145,167 by the end of 2025, and $458,000 by 2030.
“We’re currently seeing a flight to hard assets, including bitcoin. As countries continue to print fiat currency at unsustainable rates, people will find alternative ways to store value,” said Josh Fraser, cofounder of Origin Protocol, adding: “Gold has been a primary store of value for hundreds of years, and bitcoin now competes as a better version of gold.”
Sources:
https://uk.finance.yahoo.com/news/bitcoin-price-time-high-behind-123517676.html
https://decrypt.co/329539/bitcoin-hits-another-all-time-high-price-after-trump-renews-rate-cut-push