Catenaa, Thursday, May 22, 2025-Bitcoin broke above $110,000 for the first time Wednesday, surging to a record high of $110,774 on Coinbase amid accelerating institutional demand and favorable market conditions.
The price climbed 3% to $110,387 by 9:05 p.m. ET, buoyed by large-scale acquisitions from corporate treasuries and continued ETF inflows.
Analysts at Presto Research cited treasury accumulation by firms including Strategy, Metaplanet and Twenty One Capital as primary drivers behind the surge.
Michael Saylor’s Strategy led institutional purchases, adding 7,390 BTC to bring its total to 576,230 BTC. Meanwhile, Strive Enterprises, co-founded by Vivek Ramaswamy, is reportedly targeting a bitcoin treasury funded by $8.2 billion in Mt. Gox estate claims.
Roshan Robert, CEO of OKX’s US arm, said the rally stems from converging factors such as macroeconomic uncertainty, corporate reserve strategies, and clearer regulatory signals.
He noted the cryptocurrency’s scarcity and long-term appeal are fueling a structural shift in market sentiment.
Presto Research, which set a $210,000 year-end target for bitcoin in 2024, reaffirmed its outlook, calling the current rally only the “early innings” of deeper institutional adoption.
With bitcoin’s market momentum accelerating, analysts suggest a continued influx of long-term capital could support further gains and reshape bitcoin’s standing as a strategic reserve asset.
