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Bitcoin Hits Record High Fueled by Institutional Demand and Crypto-Friendly U.S. Policies

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Bitcoin surged to an all-time high on Friday, driven by strong demand from institutional investors and supportive policies from the administration of U.S. President Donald Trump. The leading cryptocurrency reached a peak of $116,781.10 during the Asian trading session, marking a gain of over 24% for the year. It was last traded around $116,563.11.

Joshua Chu, co-chair of the Hong Kong Web3 Association, attributed the record rally to “relentless institutional accumulation,” noting that major investors are buying large amounts of Bitcoin, reducing available supply on exchanges.

In March, President Trump signed an executive order to create a strategic reserve of cryptocurrencies and has appointed crypto-friendly officials, including SEC Chair Paul Atkins and White House AI czar David Sacks. Trump’s family businesses have also entered the crypto space, with the Trump Media & Technology Group planning to launch an exchange-traded fund investing in various crypto tokens, including Bitcoin, according to a recent SEC filing.

Ethereum, the second-largest cryptocurrency, also experienced a strong rise, climbing nearly 5% to $2,956.82 and earlier reaching a five-month peak of $2,998.41.

Bitcoin surges to record near $112,000 amid rising institutional interest

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Bitcoin soared to a new all-time high late Wednesday, nearly touching $112,000, driven by growing risk appetite and sustained demand from institutional investors embracing the world’s largest cryptocurrency. The digital asset reached an intraday peak of $111,988.90 and was last trading around $111,259, marking an 18% gain since the start of the year.

Anthony Pompliano, founder and CEO of Professional Capital Management, highlighted bitcoin’s increasing appeal to large investors in a letter to clients:
“Bitcoin is the only asset I am aware of where it becomes less risky as it grows in size… With its market cap now measured in trillions, almost every capital allocator on the planet can put exposure on.”

The rally has been supported by crypto-friendly policies from the Trump administration, which have unlocked more capital for digital assets. For example, Trump Media & Technology Group recently filed to launch an exchange-traded fund investing in multiple cryptocurrencies, including bitcoin, ether, solana, and ripple.

Bitcoin’s surge also boosted the broader cryptocurrency market. Ether, the second-largest token, climbed to a one-month high of $2,794.95, last up 5.4% at $2,740.99. Shares in crypto-related companies also gained, with MicroStrategy rising 4.7% to $415.41 and Coinbase Global up 5.4% to $373.85.

BBVA Advises Wealthy Clients to Allocate Up to 7% in Bitcoin, Signaling Growing Institutional Embrace of Crypto

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BBVA, one of Spain’s largest banks, is advising its private banking clients to allocate between 3% and 7% of their portfolios to cryptocurrencies, primarily bitcoin and ether, according to Philippe Meyer, head of digital & blockchain solutions at BBVA Switzerland.

Speaking at the DigiAssets conference in London, Meyer stated the advisory began in September 2023, reflecting a growing confidence in the sector. While many banks passively allow crypto investments, BBVA stands out by actively recommending such allocations — a rare move among mainstream European financial institutions.

“With private customers, since September last year, we started advising on bitcoin,” Meyer said. “The riskier profile, we allow up to 7% of portfolios in crypto.”

Context and Strategy:

  • BBVA started executing crypto trades for private clients in 2021, but this is the first time it has formally advised allocations.

  • The recommendation currently includes bitcoin and ether, with plans to extend coverage to other digital assets later in 2025.

  • Meyer emphasized that even a 3% allocation can boost portfolio performance without exposing clients to excessive risk.

Market Momentum:

Bitcoin hit record highs in May, continuing its recovery from the crypto market collapse in 2022, which saw major platforms like FTX implode. The rebound has been aided by increased institutional interest and a pro-crypto stance from U.S. political figures, including Donald Trump.

Despite these advances, regulatory bodies remain cautious:

  • The European Securities and Markets Authority (ESMA) noted earlier this year that 95% of EU banks still do not engage in crypto activities.

  • Regulators consistently warn investors of crypto’s volatility, reiterating that one should be prepared to lose their entire investment.

BBVA’s approach reflects a nuanced shift in institutional sentiment, especially for wealthy clients seeking diversification amid evolving digital asset landscapes.