Key Takeaways:
Bitcoin hits an all-time high of $111,878 amid rising institutional inflows.
More public companies are adopting Bitcoin as a treasury reserve asset.
JPMorgan Chase’s move into Bitcoin signals a broader shift in traditional finance.
Bitcoin (BTC) surged to a historic high of $111,878 early Thursday, fueled by a wave of institutional capital pouring into the market. According to data from CoinGecko, the asset climbed nearly 3.5% during Asian trading hours, lifting the total crypto market capitalization by 1.7%. In contrast, major altcoins such as XRP and Dogecoin (DOGE) saw relatively flat performance.
The rally is not solely driven by crypto-native investors or retail participants. A growing number of publicly traded companies are now turning to Bitcoin as a strategic treasury asset, leveraging capital markets to fund their BTC purchases.
“We believe institutional interest is the primary catalyst behind Bitcoin’s current momentum,” said Jeff Mei, COO at BTSE, via Telegram. “With companies increasingly accessing public markets and ETF inflows remaining robust, this trend shows no signs of slowing. May alone recorded $3.6 billion in net ETF demand.”
The derivatives market reflects this bullish sentiment. On Deribit, the most open interest is currently concentrated in call options for strike prices of $110,000, $120,000, and even $300,000, all expiring in late June—indicating that traders are positioning for further gains in the near term.
Perhaps most notably, JPMorgan Chase—the largest bank in the United States—is reportedly offering clients access to Bitcoin investments. This development marks a significant shift in sentiment from traditional finance, which has historically been wary of digital assets.
“JPMorgan’s involvement adds a new layer of credibility to Bitcoin,” one analyst noted. “As legacy institutions continue to embrace crypto, the asset’s appeal and legitimacy only grow stronger.”