Around 06:00 GMT on Monday, Bitcoin reached a new all-time high of around $109,000 on Binance.
However, the leading cryptocurrency at the time of writing is trading close to the $108,000 level, having pared some gains.
The rally has been fuelled by renewed institutional interest, growing acceptance and optimism over regulatory clarity with Donald Trump’s inauguration
The digital asset took more than a month to break the previous record high, which was reached on Dec. 16.
The cryptocurrency’s market capitalization has risen by about 2.8%, reaching $2.14 trillion.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.