Bitcoin’s exchange rate reached a new all-time high during trading on Wednesday, July 9, driven by increased risk appetite among investors and sustained interest from major financial institutions, reports Baltimore Chronicle with reference to Reuters.
During the previous session, the value of the leading cryptocurrency surged to a record $112,022. As of 10:11 a.m. Kyiv time on Thursday, the price slightly adjusted downward by 0.5%, standing at $111,185.
This positive momentum in the crypto market is supported by the favorable stance of U.S. President Donald Trump’s administration toward digital assets. Additionally, Trump Media & Technology Group — the parent company of Trump’s social network Truth Social — has expressed intentions to launch a cryptocurrency ETF that would, among other things, invest in bitcoin.
Anthony Pompliano, head of Professional Capital Management, remarked that bitcoin is the only asset he knows of that becomes less risky as it grows in size.
Since the beginning of the year, bitcoin’s value has increased by 19%, and it has nearly doubled over the past 12 months.
Earlier we wrote about what to expect from Bitcoin in 2025–2026 after the halving?.