Bitcoin’s value just broke its previous record, hitting $87,000. This big jump happened after some major Wall Street players decided to get involved with crypto. The digital coin has grown over 100% since January, making early investors very happy.
JP Morgan Chase, once very against cryptocurrencies, has now created its own Bitcoin fund for wealthy clients. CEO Jamie Dimon, who once called Bitcoin a “fraud,” now says, “We can’t ignore the technology anymore.”
This change shows how traditional finance is warming up to digital money. The Nasdaq exchange also announced plans to list Bitcoin exchange-traded funds (ETFs) next month, making it easier for regular folks to invest without buying actual coins.
“We’re seeing a perfect storm for Bitcoin,” says crypto expert Sarah Chen from Digital Asset Research. “Institutional money is flowing in, and ordinary investors are following.”
The surge comes as more people worry about inflation eating away at their savings. Bitcoin was created with a limit of 21 million coins, unlike regular money that governments can print more of whenever they want.
Walmart and Amazon recently started accepting Bitcoin payments, helping it become more mainstream. These big companies joining in gives people more confidence in using digital money for everyday purchases.
Not everyone is celebrating though. Some financial experts still warn about Bitcoin’s wild price swings. “Remember when it dropped 30% in a week last year?” cautions economist Michael Torres. “That kind of volatility doesn’t just disappear.”
Environmental concerns also remain. Bitcoin mining—the computer process that creates new coins—uses lots of electricity. Some mining operations have moved to renewable energy, but critics say it’s still too power-hungry.
Despite these worries, young investors seem most excited. A recent survey found that 46% of millennials and Gen Z see crypto as part of their retirement strategy, compared to just 8% of baby boomers.
The U.S. government is paying attention too. The Treasury Department is working on clearer rules for cryptocurrencies, which many investors see as a good sign. Clear rules could help Bitcoin become even more accepted.
Some countries are going further. El Salvador made Bitcoin an official currency in 2021, and five more nations are considering similar moves this year.
The recent price climb isn’t just about Bitcoin. Other cryptocurrencies like Ethereum and Solana have also seen big gains. The total crypto market is now worth over $3 trillion, more than the value of silver worldwide.
What happens next? No one knows for sure. Bitcoin has always been unpredictable. But with big banks, major retailers, and possibly your neighbors now involved, digital money seems here to stay—whether it keeps breaking records or not.
