The price of bitcoin $BTC reached a new all-time high, surpassing $120,000 for the first time in history. This price increase of bitcoin occurred despite global economic and geopolitical uncertainty, which sparked speculation that investors are increasingly viewing the most valuable cryptocurrency as a safe haven asset like gold.
Cited from The Independent, Friday (11/7/2025), market momentum has increased since the announcement of Liberation Day by US President Donald Trump on April 2, 2025.
At that time, Trump announced the imposition of import tariffs on products from most countries in the world entering the US.
While global stock markets plummeted, bitcoin began a rising trend that took it from around $70,000 to the current price. This was driven by Trump's executive order to establish a strategic bitcoin reserve in the US, which he described as a "virtual Fort Knox for digital gold."
Governments and other institutions are eyeing bitcoin, increasingly legitimizing it and signaling long-term confidence. "Bitcoin is being pulled into the core of national economic thinking in the US, the largest economy in the world, and also in corporate treasury policy, and institutional portfolios," said Nigel Green, CEO of financial advisory firm deVere Group. "When the current administration considers bitcoin as part of the national reserve, it reshapes the global risk framework," Green said.
"This not only legitimizes bitcoin, but also forces others, both institutions and governments, to act," he added.
Significant price fluctuations in recent years have kept bitcoin classified as a risky asset, but since May 2025 it has been trading in the range of $100,000 to $110,000.
The fixed supply of Bitcoin, which is only 21 million bitcoins, has prompted comparisons to gold since its first launch in 2009, with the current price stability further strengthening that claim.
