Bitcoin Surges to New Highs Amid Institutional and Government Support

According to BlockBeats, Bitcoin reached a new peak this week, surpassing $123,000 and exceeding July's high. This surge is driven by institutional buying, corporate financial allocations, supportive U.S. policies, and accumulating gains at the sovereign level. This trend aligns with the prediction by global financial advisory giant deVere Group, which forecasts Bitcoin could reach $150,000 by the end of 2025. As the world's largest cryptocurrency, Bitcoin has risen over 31% since the beginning of the year, marking a 60% increase from the market low in April. Key factors contributing to this rise include unprecedented inflows into U.S. spot Bitcoin ETFs, several major publicly traded companies incorporating Bitcoin into their balance sheets, and Bitcoin-friendly policies from U.S. President Donald Trump's administration. Additionally, profits from government-held Bitcoin investments have played a role. Nigel Green, founder and CEO of deVere Group, noted that multiple strong forces are converging to push Bitcoin to new records. "Institutional capital is flowing into spot ETFs at record levels. Public companies are viewing Bitcoin as a strategic reserve asset. The White House is actively supporting this asset class. Sovereign nations have already profited from their Bitcoin investments. These are not isolated events but part of a systemic shift in the global financial system," Green stated.