Bitcoin prices climbed during Friday trading, extending gains for the fourth consecutive day and hitting a new record high, moving steadily toward crossing the $120,000 mark for the first time in history.
The leading cryptocurrency is on track for its third straight weekly gain, fueled by strong institutional demand and supportive crypto policies from the administration of U.S. President Donald Trump.
Japanese tech giant Metaplanet increased its Bitcoin holdings to a new record high, adding to the momentum driven by strong inflows into U.S.-listed Bitcoin exchange-traded funds.
Price Action
On the Bitstamp exchange, Bitcoin rose by $2,801 or 2.4% to reach an all-time high of $118,839, after opening Friday’s session at $116,038. The lowest price touched was $115,226.
At Thursday’s close on Bitstamp, Bitcoin had already gained 4.25%, marking its third consecutive daily advance.
Crypto Market Cap
The total cryptocurrency market capitalization rose by over $250 billion on Friday to reach $3.75 trillion — its highest level since December 2024 — driven by Bitcoin’s record surge and a concurrent rise in Ethereum prices.
Weekly Performance
So far this week — with trading officially ending at Sunday’s close — Bitcoin is up by more than 8%, positioning it for a third consecutive weekly gain.
Bullish Catalysts
Joshua Chu, co-chair of the Hong Kong Web3 Association, said the new record for Bitcoin is being driven by ongoing institutional accumulation, with major players “draining exchange liquidity and absorbing available supply.”
In March, President Trump signed an executive order establishing a Strategic Crypto Reserve, and appointed several pro-crypto figures to top posts — including former SEC Commissioner Paul Atkins and AI advisor David Sacks, now dubbed the White House’s “AI Czar.”
Trump Family Ventures
Trump family businesses have made a bold entry into crypto. Trump Media & Technology Group (DJT.O) is seeking to launch a new exchange-traded fund investing in a range of cryptocurrencies, including Bitcoin, according to a filing submitted Tuesday to the U.S. Securities and Exchange Commission (SEC).
Metaplanet
Metaplanet has continued to ramp up its Bitcoin holdings. Between June 30 and July 6, the company acquired an additional 2,205 BTC worth $238.66 million at an average price of $108,237 per coin.
Following this latest buying round, Metaplanet’s total holdings rose to a new record of 15,555 BTC, valued at $1.544 billion at an average purchase price of $99,306.
The move mirrors a strategy pioneered by U.S.-based MicroStrategy and reflects growing institutional confidence in digital assets as a long-term investment class.
Chat now!
Add a Comment