Bitcoin hits record $125,000 as crypto surges

By Abubakar Yunusa

Bitcoin, the world’s largest cryptocurrency by market capitalisation, hit a new all-time high on Sunday morning at over $125,000.
The latest price represents a 97 percent jump from about $62,000 recorded in October 2024.
The digital currency had recently peaked at $124,500 on August 14, following favourable legislation and a rally in the United States (US) equities.
The gains were attributed to the S&P 500 and the tech-heavy Nasdaq closing at record highs.
According to data from coinmarketcap.com, the cryptocurrency price stood at $124,913 as at 8:55 am on Sunday.
Similarly, Ethereum, the second-largest cryptocurrency by market cap, also rose by 2.4 percent to $4,609.
CoinMarketCap also said the global cryptocurrency market cap rose by 1.9 percent to $4.35 trillion, and recorded over $150 billion as at 09:15 am.
Since the beginning of the year, bitcoin’s value has soared, supported by regulatory reforms under the US President Donald Trump, a vocal supporter of the digital asset sector.
On October 3, Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), said the bank is collaborating with the Securities and Exchange Commission (SEC) to develop a sustainable framework for digital currencies in the country.
Cardoso said cryptocurrencies, fintech, and blockchain innovation will play a role in shaping the future of currency policy — but the extent remains to be seen.
He recalled how Nigeria was thrust into global crypto prominence two years ago when regulators struggled to manage coin exchange markets, with the country ranking among the largest crypto trading hubs worldwide.