Bitcoin hit! Crypto king eyes US$130k in grown-up glow-up
Digital gold rush heats up as institutions pile in and nations back the blockchain
Bitcoin is not just for the tech bros and crypto cowboys anymore, it’s all grown up, flashing serious financial muscle as analysts tip it to smash through the US$130,000 barrier by year’s end.
Following a high of US$111,000 last Thursday, financial analysts now peg bitcoin’s next major resistance at US$130,000, as the world’s top digital currency shakes off its wild-child reputation to become a heavyweight in the global economy.
A fresh report by Bitkub Exchange credits the leap to booming institutional investments, sovereign buy-ins and shifting macroeconomic winds. With a staggering US$19 billion net inflow in April, the crypto giant is increasingly viewed as a pillar of modern finance, not just a punt for speculators.
Since nosediving to US$75,000 on 7 April, a drop triggered by Donald Trump’s tariff bombshell that spooked global markets, Bitcoin has bounced back 47%, now sitting near US$100,000, up 17.5% year-to-date.
Merkle Capital, a digital asset adviser regulated by Thailand’s SEC, said: “Bitcoin has undergone significant transformation over the past quarter, evolving from a volatile speculative asset to a more stable store of value with increasing importance in the global economic system.”
Bitcoin has shrugged off its past volatility, with its link to traditional safe-haven assets like gold and the S&P 500 now fading. According to Merkle, its reaction to recent US tax changes revealed a new level of independence, bolstering its status as a digital store of value.
With global inflationary pressure still squeezing economies, Bitcoin’s built-in scarcity, decentralisation and transparency are proving to be powerful draws for deep-pocketed investors. Spot Bitcoin ETFs, especially BlackRock’s iShares Bitcoin Trust, now managing US$51 billion, have seen 16 straight days of inflows, underlining institutional appetite.
It’s not just Wall Street getting in on the act. New Hampshire has passed a bill allowing up to 5% of public fund reserves to be parked in Bitcoin, while Arizona and Texas are weighing similar moves. VanEck and Strive Asset Management have even rolled out BitBonds, sovereign debt tied to Bitcoin.
Meanwhile, MicroStrategy continues to lead the corporate charge with over 555,000 coins, worth more than US$57 billion, while firms like TwentyOne Capital chase long-term strategies with targets of 42,000 coins.
The broader crypto world is also booming. Asset tokenisation is projected to hit US$2 trillion by 2028, and stablecoins are laying the groundwork for digital finance infrastructure. BlackRock’s tokenisation of US treasury bonds signals a pivot towards blockchain-based capital markets.
Despite risks like US-China tensions and fears of stagflation, Merkle says rate cuts and pro-growth tax plans expected in the second half of 2025 could drive further flows into crypto and other risk assets.
“Bitcoin is entering its ‘adulthood phase’ in the financial world. Supported by institutional flows, policy alignment, and technological maturity, Bitcoin is well positioned to reach a new all-time high this year.”
On Thailand’s Bitkub Exchange, Bitcoin traded at 3.6 million baht on 22 May, up 3.22% in 24 hours, with highs of 3.62 million baht.
Even as US equity markets wobbled following a weak 20-year treasury bond auction, Bitcoin ETFs clocked US$3.6 billion in inflows in May, fuelling a rally that could soon see the crypto king reclaim its crown.
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