Bitcoin has shattered all previous records, surging past $125,000 on Sunday morning, a milestone that cements its dominance as the world’s leading cryptocurrency.
The fresh all-time high marks a 97% leap from October 2024’s $62,000 level, driven by strong investor sentiment and upbeat global market performance. The latest surge followed a rally in US equities, with both the S&P 500 and Nasdaq closing at record highs.
According to CoinMarketCap, Bitcoin traded at $124,913 as of 8:55 am, while Ethereum the second-largest crypto climbed 2.4% to $4,609. The global crypto market capitalisation also jumped 1.9% to $4.35 trillion, with over $150 billion traded by 9:15 am.
Analysts attribute Bitcoin’s meteoric rise partly to favourable US legislation and the pro-crypto stance of President Donald Trump, whose administration has been rolling out reforms to boost the digital asset sector.
In Nigeria, Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), revealed last week that the bank is working with the Securities and Exchange Commission (SEC) on a new framework for digital currencies. Cardoso noted that cryptocurrencies, fintech, and blockchain innovation will “shape the future of currency policy,” though the extent remains uncertain.
Nigeria continues to stand out as one of the world’s largest crypto trading hubs a position strengthened by its rapid adoption and resilient digital economy.
