Bitcoin, the world’s largest cryptocurrency by market capitalisation, surged to a new all-time high on Sunday morning, surpassing $125,000.
This milestone marks a 97 percent increase from the roughly $62,000 recorded in October 2024.
The digital asset previously hit $124,500 on August 14, driven by favourable legislation and a rally in U.S. equities, as both the S&P 500 and Nasdaq closed at record highs.
According to CoinMarketCap, Bitcoin’s price stood at $124,913 as of 8:55 a.m. on Sunday.
Meanwhile, Ethereum, the second-largest cryptocurrency by market cap, climbed 2.4 percent to $4,609.
CoinMarketCap further reported that the global cryptocurrency market cap rose 1.9 percent to $4.35 trillion, with over $150 billion in trading volume as of 9:15 a.m.
Since the start of the year, Bitcoin’s value has continued to soar, buoyed by regulatory reforms introduced under U.S. President Donald Trump, a known advocate of the digital asset industry.
On October 3, Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), revealed that the bank is working with the Securities and Exchange Commission (SEC) to design a sustainable framework for digital currencies in Nigeria.
Cardoso noted that cryptocurrencies, fintech, and blockchain innovation will influence the future of monetary policy — though the scale of their impact remains uncertain.
He also recalled how Nigeria gained international recognition in the crypto space two years ago when regulators grappled with managing digital exchanges, placing the country among the world’s top crypto trading hubs.