Bitcoin approaches all-time high, government bond investors drive up cryptocurrency market.

The demand from institutional investors and corporate finance departments has boosted the entire digital asset market, with Bitcoin prices nearing historic highs. The initial cryptocurrency surge reached as high as 3.3%, breaking $122,000, not far from the previous historic record set in mid-July. Over the weekend, Ethereum skyrocketed to over $4,300, its highest level since December 2021. Behind this surge is the increasing interest from large investors in cryptocurrencies. According to data compiled by CoinGecko, so-called digital asset financial companies - institutions that have transitioned to accumulating cryptocurrencies - have accumulated a Bitcoin reserve worth $113 billion to date. According to data from strategicethreserve.xyz, corresponding Ethereum-related institutions currently hold a reserve of around $13 billion in Ethereum. "The rise of Bitcoin to historical highs has been supported by continued inflows of institutional funds into corporate finance departments and US spot exchange-traded funds, along with a shift in market sentiment after the US imposed new tariffs on imported gold bars," said cryptocurrency analyst Rachel Lucas of BTC Markets. "With gold facing supply bottlenecks and policy risks, Bitcoin as a borderless, duty-free store of value is increasingly favored by investors."