Bitcoin’s price climbed to an all-time high of roughly $123,000 on 14 July, boosting the cryptocurrency’s market value to about $2.4 trillion. The advance vaulted Bitcoin past Amazon.com Inc., making it the world’s fifth-largest asset by capitalisation, behind only gold, Microsoft, Apple and Saudi Aramco. The rally extends a months-long upswing driven by heavy inflows from asset managers and corporate treasuries. Industry data indicate that 125 publicly traded companies now collectively hold around 847,000 Bitcoin—worth approximately $91 billion at prevailing prices—underscoring the growing role of institutions in the market. Analysts said rising institutional demand and a clearer regulatory backdrop have been key catalysts for the latest surge, while cautioning that the token’s pronounced price swings continue to pose risks for new investors.