Bitcoin Hits New All-Time High Above $123K, Surging Over 110% Year-on-Year

Bitcoin has reached a new record high, crossing $123,000 for the first time. Data from Bitstamp on TradingView shows the price reached $123,236 on Monday morning.

Remarkably, the surge represents a 110.7% increase compared to the same period last year. For context, BTC traded at approximately $58,500 around this time in 2024.

Over 4,700 BTC Acquired as Companies Ramp Up Holdings

The sudden rise triggered significant liquidations in the derivatives market. According to Coinglass data, over $732 million in short positions were wiped out within 24 hours.

Notably, the new all-time high came just three days after the pioneer crypto asset previously touched $118,000. The consistent upward trend reflects growing confidence in bitcoin’s long-term role in global finance.

Fueling this momentum is a surge in corporate interest. A growing number of companies are now adding BTC to their balance sheets, signaling broader institutional acceptance.

Between July 7 and 12, there were 80 bitcoin treasury-related announcements. Among them, 29 companies acquired a combined total of 4,209 BTC.

Breaking down the activity further, six new corporate treasuries launched during the same period, purchasing 491.2 BTC. Another 10 firms revealed plans to begin accumulating bitcoin in the near future. One standout was ReserveOne, which made headlines with a $1.05 billion future allocation.

Additionally, 20 firms revealed intentions to continue buying bitcoin. Many of these plans involve large-scale purchases in the coming weeks. At the same time, 35 companies disclosed BTC acquisitions during the week, setting a new record.

Metaplanet Now Holds 16,352 BTC

Meanwhile, Japanese investment firm Metaplanet announced on Monday that it added 797 BTC to its treasury. The acquisition cost around $95 million at an average price of $117,451 per coin.

The investment firm now holds 16,352 BTC, worth nearly $2 billion at the current market rate. The firm’s average purchase price across all holdings is about $100,191.

Metaplanet said the purchase was part of its ongoing Bitcoin Treasury Operations, reflecting a broader corporate trend of adopting bitcoin as a reserve asset.

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