Bitcoin Hits Record High Amid Growing Institutional and Political Support

Bitcoin Hits Record High Amid Growing Institutional and Political Support

Key Points:

• Bitcoin surged to a record high of nearly $110,000 on Wednesday, surpassing its previous peak from early January.

• Growing acceptance of crypto by U.S. lawmakers and traditional financial institutions is driving demand.

• BlackRock’s iShares Bitcoin Trust saw $6.5 billion in inflows in the past month, ranking 5th among U.S. ETFs for year-to-date inflows.

Bitcoin (BTCUSD) soared to an all-time high of $109,900 on Wednesday, fueled by rising institutional demand and growing political support in Washington. Although it later eased to around $108,000, the milestone reflects renewed momentum in the crypto market.

Cryptocurrencies, once viewed as fringe assets, are gaining legitimacy. This week, the U.S. Senate advanced a bill to regulate stablecoins—marking progress toward formal crypto legislation. President Trump has also backed digital assets, including directing the Treasury to create a Strategic Bitcoin Reserve.

On Wall Street, adoption is accelerating. JPMorgan Chase CEO Jamie Dimon, previously a vocal critic, said the bank will now allow clients to buy Bitcoin. Morgan Stanley and BlackRock have already entered the crypto space.

Investor enthusiasm is reflected in the surge of funds into Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust (IBIT) attracted $6.5 billion over the past month, making it one of the top five U.S. ETFs by inflows in 2025.

Corporate demand is also playing a key role. MicroStrategy (MSTR), led by Bitcoin advocate Michael Saylor, added $765 million in Bitcoin last week, bringing its holdings to over $63 billion. Additionally, a new firm called Twenty One, backed by a Trump administration-linked executive, plans to compete in the corporate Bitcoin treasury space.