Bitcoin crosses $118,000 amid economic uncertainty

digital cash system and associated currency

Highlights

Bitcoin has surpassed $118,000, driven by increased institutional investment and a favorable regulatory environment.
The digital currency has gained recognition as a potential safe-haven asset amid economic uncertainty.
Analysts anticipate further price increases, projecting Bitcoin could reach $145,167 by the end of 2025.

Story

The price of bitcoin has soared, breaking the $118,000 mark, which marks a historic high for the cryptocurrency. Despite the ongoing global economic and geopolitical uncertainty, this surge signifies a shift in how investors view bitcoin, increasingly perceiving it as a safe-haven asset akin to gold. This price uptick can be traced back to a series of events, namely an announcement made by U.S. President Donald Trump on April 2, 2025, when he introduced a wide range of tariffs that had a negative impact on global stock markets while pushing bitcoin's value upward as investors sought more stable assets. Additionally, the Trump administration's initiative to establish a strategic bitcoin reserve, likening it to a

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