Bitcoin has broken through yet another milestone, surging to a record high of over $107,000.

After regaining the significant $100,000 mark, Bitcoin (BTC) continued to strengthen, hitting peaks of $107,172 on the U.S.-based crypto exchange Coinbase. The leading digital currency reached this new all-time high following a $1.5 billion purchase by the largest corporate holder of BTC.

Bitcoin surpassed the $104 mark on December 5, 2024.

However, profit-taking led to a decrease, with the price reaching lows of $97,044, where it struggled to gain upward momentum for the following nine days. On December 15, 2024, bullish sentiment drove the price past its previous high, reacting positively to statements from U.S. president-elect Donald Trump.

The rise of BTC above $107k occurred as MicroStrategy acquired 15,350 BTC, increasing its total holdings to 439,000. As the price of BTC soared to its new ATH, MicroStrategy’s shares also experienced a boost, starting with a 6.5% increase in pre-market trading.

Bitcoin’s rally, which analysts believe may have further to go, also marked a significant new milestone.

In a post on X, seasoned trader Peter Brandt pointed out that the Bitcoin-to-gold ratio reached a new all-time high of 39. At this point, it requires 39 ounces of gold to purchase one BTC. Brandt indicated that the next resistance level could be at 89, signifying Bitcoin’s continued strength against the precious metal. Gold was priced at $2,670.3 per ounce at the time of this writing.

Meanwhile, spot Bitcoin exchange-traded funds have enjoyed net inflows for five straight days.

The market recorded total inflows of $2.17 billion between December 9 and 13. With a crypto-friendly Trump administration set to assume power in the U.S., factors like spot ETFs and enhanced regulatory clarity are fueling bullish sentiment, with the upcoming target for BTC set at $110,000.