Last week was marked by a record surge in the price of Bitcoin, which twice updated its historical maximum and reached the level of $118,400. The key drivers of this growth were large-scale institutional investments and the postponement of new trading tariffs by the U.S. administration.
This is reported by Finway
Institutional Investments and New Bitcoin Records
At the beginning of the week, Bitcoin surpassed the $109,000 level amid news of the Trump administration’s postponement of tariff implementation. Over the following days, the cryptocurrency set two new historical highs on July 10 and 11. The total weekly gain was over 9%.
Strategy reported $14.05 billion in unrealized profits in Q2, a striking contrast to the results from the previous period.
Among the notable institutional investments of the week: Metaplanet increased its portfolio to 15,555 BTC, Australian DigitalX raised $13.5 million to expand its Bitcoin reserves, and Japanese Remixpoint secured approximately $215 million for investments in the first cryptocurrency.
Key Regulatory Events
In Ukraine, new sanctions have been introduced against Russian cryptocurrency schemes. According to President Zelensky, Russians conducted operations worth several billion dollars through one of the companies on the sanctions list since the beginning of 2024.
In the U.S., a group of Democratic senators proposed sanctions against the President of El Salvador due to his Bitcoin policy. Meanwhile, in New Zealand, a ban on cryptocurrency ATMs was announced as part of an update to the anti-money laundering regime.
A scandal also erupted around the TON Foundation when the organization mistakenly announced the possibility of obtaining a “golden visa” in the UAE through staking Toncoin. UAE authorities officially denied this information.