Bitcoin Breaks Above $118,780, Extending Record-Breaking Rally
Bitcoin pushed through another milestone in Friday’s European trading session, rising above $118,780 and continuing its streak of new all-time highs in recent days.
The world’s largest cryptocurrency has gained more than 8% this week. It has doubled over the past 12 months, climbing from around $70,000 in early November, shortly before Donald Trump won the U.S. Presidential election.
The sustained rally is being driven by institutional demand, tightening exchange supply, and growing investor conviction in Bitcoin as both a macro hedge and a long-term asset class.
The Smarter Web Company (AQSE: SWC) surged 20% over the week, pushing its market valuation past the £1 billion mark for the first time. The rally comes amid renewed enthusiasm for digital assets, with The London BTC Company Ltd (LSE: BTC, OTCQB: VINZF) and Coinsilium Group Limited (AQSE: COIN, OTCQB: CINGF) also posting notable gains.
The rise in crypto-related equities reflects growing investor confidence in the digital asset space, driven by increasing institutional interest and market momentum.
The rally was fueled by steady institutional buying, which has tightened the available Bitcoin supply on exchanges, amplifying upward price pressure.
Ether (ETH), the second-largest cryptocurrency by market capitalisation, also benefited from the bullish momentum, rising nearly 5% to reach its highest level in five months.
The coordinated gains across leading digital assets highlight growing confidence in the sector, with market participants anticipating further upside as adoption deepens and liquidity tightens.
London BTC Company Raises £1.5m to Grow Bitcoin Reserves
London BTC Company Ltd (LSE: BTC, OTCQB: VINZF) has raised £1.5 million to expand its Bitcoin holdings, reinforcing its long-term strategy of aligning its balance sheet with sustained conviction in the cryptocurrency.
The company said nearly all the proceeds will be used to build its Bitcoin position over the next six to twelve months. It also signalled that further capital raises are planned, including potential dilutive options such as debt or convertible debt with long-dated conversion features.
CEO Hewie Rattray highlighted strong investor interest in treasury-focused models, but stressed the need to educate institutional investors on their value proposition.
“We aim to outperform Bitcoin in a bull market and try to protect the downside in a bear market,” he said.
Rattray added that while direct Bitcoin ownership remains the most effective form of exposure, shares in a treasury company could offer a more dynamic and potentially leveraged route. He confirmed that the company remains committed to accumulating Bitcoin regardless of short-term market conditions, while actively exploring non-dilutive funding alternatives to support its growth strategy.
