Bitcoin has reached a new record high, crossing the $125,000 mark for the first time in history.
According to Bloomberg News, the cryptocurrency climbed to $125,689 on Sunday, breaking its previous record of about $124,500 set in August.
Experts say the rise is driven by growing investor interest in safe-haven assets as the United States faces a possible government shutdown. Gains in US stock markets have also supported Bitcoin’s upward momentum.
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Crypto analyst Joshua Lim, co-head of markets at FalconX, told Bloomberg News, “With many assets, including equities, gold and even collectables like Pokémon cards hitting all-time highs, it’s no surprise Bitcoin is benefiting from the dollar debasement narrative.
The surge also follows a wave of pro-crypto policies under US President Donald Trump, whose administration has taken a friendlier stance toward digital currencies.
Trump and his family have openly supported cryptocurrencies and are involved in several crypto-related businesses. His support marks a sharp shift from the scepticism seen under former President Joe Biden.
In July, the US House of Representatives passed three landmark cryptocurrency bills, boosting confidence among investors and driving Bitcoin’s value higher.
Market watchers believe the combination of political support, investor demand, and global economic uncertainty is likely to keep Bitcoin’s momentum strong in the coming weeks.