Bitcoin Reaches New All-Time High Above $110,000

On the morning of May 22, Bitcoin reached another record — the value of the coin exceeded $111 000. What are the reasons and further forecasts?

On the morning of May 22, Bitcoin reached another record — the value of the coin exceeded $111 000. What are the reasons and further forecasts?

Where did the record come from?

According to Bloomberg, Bitcoin briefly reached an all-time high after the passage of stablecoin legislation in the US, raising hopes for regulatory clarity under President Donald Trump.

The largest cryptocurrency rose 2,7% to a record high of $109,856 on May 21 before selling off most of its gains as financial markets retreated. The previous high was set on January 20. The coin is now down slightly.

Now the value of Bitcoin is even higher.

An industry-backed regulatory bill is preparing for debate in the Senate, and the bipartisan group hopes to pass it this week with revised terms, including stronger restrictions on money laundering and improved consumer protections.

The terms of the proposed bill have been updated to introduce stricter restrictions on money laundering, foreign issuers, technology companies, and enhanced consumer protection. It will also ensure the same rules for domestic and foreign issuers.

«This is a change in approach from Gary Gensler and the Securities and Exchange Commission to the Trump administration that has engulfed our industry,» Michael Novogratz, founder and CEO of Galaxy Digital, said in an interview with Bloomberg TV Wednesday. «It has unleashed the animal spirit both here and abroad.»

The jump to a new record high came as Trump was preparing to meet with the largest holders of his memocoins for dinner at his golf club near Washington.

What will happen next?

Bitcoin has gained about 14% this year, outperforming other risk assets. Some market participants have dubbed bitcoin a safe haven amid the turmoil in financial markets caused by Trump’s trade tariffs.

«We’re in a very difficult position in this country when you have that kind of debt. And you see it has long interest rates, yield curves are selling off all over the place, the dollar is under pressure,» Novogratz said. «That’s all good for bitcoin and cryptocurrencies.»

Options traders had already built up bullish positions in Bitcoin earlier this week, with the highest open interest, or the number of outstanding contracts on Deribit, seen in the $110,000, $120,000 and $300,000 options expiring on June 27. According to Amberdata, demand for short-term quotes expiring by the end of June with strike prices above $110,000 has surged in the past 24 hours.

Liquidations from both bullish and bearish bets on crypto assets remain moderate amid a breakout of around $200 million in the past 24 hours, according to Coinglass data.

Bitcoin has gained about 14% this year, outperforming other risk assets such as U.S. stocks. The Nasdaq 100 index is down about 2% since December. That has been helped by increased demand from Michael Saylor’s Strategy and other companies looking to emulate his bitcoin-buying strategy. The former software maker, which was until recently called MicroStrategy, has amassed more than $50 billion worth of tokens.

Bitcoin miners, a pool of little-known small-cap companies and public firms newly created by cryptocurrency giants, offer everything from convertible bonds to preferred shares, giving investors a variety of options for exposure to bitcoin. Cantor Fitzgerald LP is working with stablecoin issuer Tether Holdings SA and SoftBank Group to launch Twenty One Capital Inc., a company that mimics Strategy’s business model. Strive Enterprises Inc., a subsidiary co-founded by Vivek Ramaswamy, is merging with Nasdaq-listed Asset Entities Inc. to create a bitcoin vault.

Earlier, Paolo Ardoino, CEO of Tether, the company that developed the USDT cryptocurrency, made a prediction about the existence of the most common cryptocurrencies. In his opinion, the USDT stablecoin, which his company issues, will become unnecessary, and the world will use only Bitcoin.