Bitcoin Breaks New Record, Hits Over $112,000 as Market Reacts to Changing Policies

Bitcoin Hits New All-Time High Above $112,000

Bitcoin briefly reached a new record high of $112,152 on Wednesday, slightly above its previous peak of $112,000 in May. The price then dropped slightly to around $111,000. So far this year, Bitcoin has gained about 20%.

The recent price increase came after the Trump administration confirmed the date for new tariffs, which helped reduce market uncertainty. U.S. Treasury Secretary Scott Bessent said the tariffs will take effect on August 1 for countries without a trade deal with the U.S. If negotiations fail before that date, the tariffs will go back to April levels.

Elon Musk also shared support for Bitcoin, saying his new “America Party” backs the cryptocurrency.

Bitcoin is also seeing growing interest from companies and institutions. For example, a UK-based web design firm, The Smarter Web Company, has shifted its focus to Bitcoin and recently bought 226.42 BTC for about $24.4 million, at an average price of around $107,726 per BTC.

With this move, the company is now ranked 31st among 135 public companies that hold Bitcoin, according to Bitcoin Treasuries data.

On the institutional side, spot Bitcoin ETFs now manage nearly $150 billion in assets, showing strong and ongoing interest from large investors, even in a volatile market.