Bitcoin hits a new all-time high as institutional adoption, sovereign reserves, and ETF inflows signal a lasting shift in adoption.

The U.S. dollar rose against major currencies including the yen and euro as President Donald Trump rekindled trade tensions with new tariffs on Canada and other trading partners.

Trump’s upcoming crypto report may propose a Bitcoin reserve funded without taxpayer money, aiming to boost US leadership in the digital asset space.

Bitcoin saw a massive price surge on Wednesday, not only recovering from the aftershock of President Donald Trump's tariff policy, but also recording an all-time high (ATH) at over $112,000. At the time of writing this story, the BTC price was at $112,016. The cryptocurrency last hit an ATH of $111,970.17 on May 22 and has been struggling since.

Bitcoin (BTC) accelerated its uptrend, reaching new record highs above $113,000 on Thursday. The rally follows mounting uncertainty surrounding the resurgence of tariff-triggered volatility in global markets as the United States (US) seeks to finalize trade deals before August 1, when higher import duties take effect.

File this under "More proof that Bitcoin ( BTC -1.45%) is going mainstream." At the end of June, Texas signed into law a Strategic Bitcoin Reserve that will invest in Bitcoin. Texas becomes the third state to do so, joining New Hampshire and Arizona.

Trump issued a letter late on Thursday that said a 35% tariff rate on all imports from Canada would apply from August 1

Bitcoin's price has declined slightly on Wednesday, following a minor upswing the previous day, which stalled at $109,216. With bears seemingly on the upper hand, BTC is trading at around $108,698 at the time of writing.

Elon Musk’s announcement that his newly launched America Party will fully back Bitcoin marks a major leap in the digital asset’s political

U.S. lawmakers debate nationalizing firms like MicroStrategy to build a Bitcoin reserve, raising concerns over property rights and investor confidence.