Bitcoin rose to an all-time high of around $112,000 in late daily trading on Wednesday, supported by continued institutional appetite as traditional financial markets begin to embrace the digital asset.
According to Professional Capital Management CEO Anthony Pompliano, Bitcoin is the only asset that is less risky when its value grows.
He added that more and more of the world's major fund managers are starting to take exposure to this digital asset, in contrast to the era when Bitcoin was only worth $100 to 200 billion and only a few parties dared to bet.
The crypto-friendly policies of the Donald Trump administration era are seen to continue to support the growth of this sector.
Most recently, the Trump Media & Technology Group (DJT.O), a company controlled by the US President's family, is reported to be planning to launch an exchange-traded fund (ETF) targeting investments in several major tokens.
Among the digital assets expected to be involved are Bitcoin, Ethereum, Solana and Ripple (XRP), according to a filing with the US market regulator on Tuesday.
The surge in the crypto giant's price has had a positive impact on other cryptocurrencies, especially Ethereum, the world's second-largest asset by market capitalization.
ETH surged to a one-month high of $2,794.95, before easing slightly to $2,740.99, up around 5.4% in recent trading.
