Bitcoin has smashed another record, touching $124,000 on Thursday, August 14.
The surge came as U.S. retirement accounts, big investors, and corporate treasuries poured fresh capital into the crypto market. American stocks also rallied, showing a global appetite for risk.
Bitcoin, the world’s largest cryptocurrency, climbed 0.9% above its July peak. Ethereum reached $4,700 — its highest since 2021.
Prices now hover around $121,500, well above the $120K barrier. The rally began at $116K and accelerated quickly.
Why Bitcoin Is Soaring
Analysts point to President Donald Trump’s pro-crypto stance, rising certainty of a Federal Reserve rate cut in September, and strong ETF inflows.
Bitcoin’s market cap now sits at $2.5 trillion. Ethereum is valued at about $575 billion. Together, they command around 70% of the global crypto market, according to CoinMarketCap.
Trump’s recent executive order allows 401(k) retirement accounts to buy cryptocurrencies directly. “Even a modest allocation could deliver a significant boost to Bitcoin prices,” analysts say.
Institutional and treasury purchases have added fire to the rally. Payroll contributions in retirement accounts are now creating steady buying pressure.
Trump’s Role in the Crypto Boom
Trump, who calls himself “the crypto president,” has pushed sweeping reforms. These include stablecoin laws and securities rules to favour digital assets.
His administration’s policies, plus a healthy global economic outlook, have driven Bitcoin up almost 32% in 2025 alone.
Large custodians and asset managers are now expected to buy more Bitcoin directly, further cementing its place as a mainstream investment.
Could Bitcoin Hit $150,000?
Some analysts believe that if Bitcoin holds above $125,000, it could be on course for $150,000.
They say this would strengthen its role in both institutional and retail portfolios. “Momentum is strong, and the money is real,” one market strategist noted.
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