TOKYO: Bitcoin reached a new record high on Sunday, rising above the $125,000 mark.

The cryptocurrency reached $125,689, shooting above its previous August record of around $124,500.

Bitcoin has enjoyed a strong upward momentum with investors cautious about the US government shutdown. Gains in US shares have also supported bitcoin’s rise, while investors looked to safe haven assets while lawmakers negotiate over funding the federal government, Bloomberg News said.

US President Donald Trump and his family have been big promoters of cryptocurrencies. His embrace of digital assets reversed years of US policy, with the House of Representatives passing three cryptocurrency bills in July. These regulatory changes have seen the value of bitcoin soar.

Published in Dawn, October 6th, 2025