Bitcoin, Ethereum Near Record Highs Amid Institutional Buying
Bitcoin climbed over 3% to $122,319 on Monday, approaching its mid-July record, while Ethereum reached $4,323 over the weekend, its highest level since December 2021.
According to Bloomberg, citing Coingecko data, major holders — including digital-asset treasury firms — have accumulated $113bn in bitcoin and $13bn in ethereum to date..
The rally follows Donald Trump’s executive order last week allowing US retirement plan managers to offer cryptocurrencies, private equity, real estate, and other alternative assets in 401(k) portfolios.
Investment professionals have cautioned that the move introduces untested risks for retail retirement savers. “This is brand new; none of it has been stress-tested yet [in a market shock or long-term selloff]. There are liquidity concerns, issues around fees, among others,” said Christopher Bailey, director of retirement at Cerulli Associates.
Petr Kozyakov, CEO of payment platform Mercuryo, noted: “Bitcoin is within touching distance of a new all-time high amid unrelenting institutional demand. While Ethereum is having its moment in the sun – with its price rising above $4,300 to its highest since December 2021 – the Orange Pill narrative remains firmly in place.”
The “Orange Pill” refers to bitcoin’s official colour and the process of introducing someone to the cryptocurrency. Kozyakov added that bitcoin remains the “undisputed King of Crypto,” valued both as “digital gold” and as a borderless, tariff-free asset driving the current rally.
