Bitcoin price soars exponentially, hitting a new record high of $117,000

Bitcoin (BTC-USD) hit a new all-time high of over $117,000, fueled by increased demand from institutional investors. Matt Hougan, chief investment officer at Bitwise Asset Management, points out that ETFs have purchased $5.2 billion in bitcoin in the past month, reflecting a significant allocation. Given Bitcoin's limited supply and continued investment flows, Hougan estimates the price could exceed $200,000 by the end of the year.