According to cryptocurrency data site CoinMarketCap on the 23rd, Bitcoin surpassed $110,000 the previous day, hitting its highest price in four months since January 20th.
The US-China tariff war has entered a three-month "truce mode," reducing macroeconomic uncertainty, and the GENIUS bill to regulate stablecoins.
This was due to the fact that crypto assets (virtual currencies) have been incorporated into the institutional sphere, such as the de facto passage of the Bill by the U.S. Senate. Institutional investors responded to the elimination of uncertainty.
As of the 21st (local time), the US Bitcoin spot exchange-traded fund (ETF) recorded "net inflows" for six consecutive trading days. Normally, spot ETFs are used by institutional investors to invest in Bitcoin.
Blockchain data analyst Willy Woo said:
Woo said, "I've never been able to invest in Bitcoin so smoothly before."
"I've never seen gold flowing in," he said, "It seems like institutions are making installment investments in Bitcoin." With the inflow of institutions, Bitcoin has surpassed Amazon in market capitalization.
It is the 5th largest asset in the world. Currently, Bitcoin's market capitalization is about $2.2 trillion, overtaking Amazon's $2.135 trillion. Gold, Microsoft, and NVIDI
A is the fifth largest after Apple. ▽JP Morgan also introduces Bitcoin… Institutional investors are expected to accelerate their adoption With such an influx of institutional funds, it is expected that institutions will adopt Bitcoin.
The number of cases is expected to increase. A prime example is JP Morgan, which allowed its customers to purchase Bitcoin on the 19th of last month (local time).
Jamie Diman, CEO of JP Morgan, has raised concerns about money laundering and other issues related to Bitcoin.
"I don't think people should smoke cigarettes, but I support the right to smoke. I also support the right to buy Bitcoin," he said, explaining the background to his adoption of Bitcoin.
"The largest bank in the U.S. is acknowledging that customer demand for cryptocurrencies is growing," Ryan Lee, a senior analyst at Bitget Research, told CoinDesk.
"The decision by Yahoo! to accept Bitcoin gives legitimacy to its position," he said, "and may encourage other traditional financial institutions to favor Bitcoin as well."
It is also predicted that the elimination of regulatory uncertainty will have a positive impact on the entire virtual asset market. This could lead to further increases in Bitcoin.
The GENIUS bill, a US stablecoin bill, passed the final vote of the debate in the US Senate on the 20th (local time). The GENIUS bill allows subsidiaries of banks to use it to a certain extent.
If the requirements are met, stablecoins can be issued. Roshan Robert, CEO of Oakex USA, said, "Bitcoin spot ETF inflows, macroeconomic uncertainty
"The resolution of the issue, along with the relaxation of regulations on crypto assets, is driving the rise of Bitcoin."
2025/05/23 11:34 KST
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