Bitcoin hit an all-time high on May 21, topping USD 109,500 on Coinbase and USD 109,458 on Binance. The cryptocurrency fell slightly to USD 108,668,000 on the same day, Fortune Crypto reports.
Bitcoin is rallying amid a recovery in the US stock market. The S&P 500 index has risen 15% since the end of April, while the Nasdaq has gained more than 21%. Experts say the rally was also helped by a easing of US President Donald Trump's aggressive rhetoric on tariffs.
Experts also say that progress in regulating stablecoins in the US is another reason for the price increase, which is boosting confidence among large investors in cryptocurrency.
According to Companiesmarketcap, Bitcoin's market capitalization has exceeded USD 2.165 trillion, making it the fifth largest traded asset in the world, ahead of Amazon and Alphabet, but behind gold, Apple, Microsoft and NVIDIA. Bitcoin's share of the total crypto market capitalization is currently over 64%.
As previously reported, Bitcoin began to gain in value after Donald Trump announced plans to include it in the new US strategic crypto reserve.
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