Bitcoin Smashes Past $111K, Setting New Record Highs, on Institutional Fervor

Bitcoin (BTC) broke through $111,000 for the first time early Thursday, setting a fresh all-time high as capital continues to pour into the asset from an increasingly institutional class of buyers.

BTC rose nearly 3.5% to touch $111,878 during Asian morning hours, CoinGecko data shows, lifting overall market capitalization 1.7%. Major tokens from xrp to dogecoin (DOGE) showed little movement

The demand isn’t just coming from crypto-native funds or retail traders. Publicly listed companies increasingly treat BTC as a treasury asset, using capital markets to raise cash and buy more of the token.

“We think that large institutions are driving Bitcoin’s rally,” said Jeff Mei, COO at BTSE, said in a Telegram message. “This trend will likely continue, especially as more companies tap public markets and ETF inflows remain strong. May alone saw $3.6 billion in net ETF demand.

”Options traders have taken note. Contracts for $110,000, $120,000 —