The popular cryptocurrency Bitcoin surged to hit the record high at $125,000 on Sunday. According to CoinMarketCap, the price of Bitcoin was trading at $124,917 with a gain of 1.97 per cent in past 24 hours. Bitcoin price witnessed a sharp spike in the past seven days with a jump of 14 per cent. The market cap of Bitcoin rose 1.88 per cent to $2.48 trillion.

Optimism over potential Federal Reserve rate cut, increased inflows into Bitcoin exchange-traded funds (ETFs), and macroeconomic uncertainties, including the recent US government shutdown, are the major reasons that have prompted investors to put their money into safe assets like Bitcoin.

Digital assets are moving beyond trading instruments and moving towards providing utility as a component of corporate treasury and portfolio alloca

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