Bitcoin surpasses RM510,000 on Luno, as institutional demand continuously grows
PETALING JAYA (July 15, 2025) : Bitcoin, the first and largest cryptocurrency by market capitalisation, has hit over half a million ringgit on Luno, as institutional demand continuously grows.
The strong demand from investment firms and companies for Bitcoin exposure, be it direct purchases or ETFs, has created a recent uptick in the price.
This is coupled by the US Federal Reserve's more dovish tone. This environment has supported greater investor risk appetite, benefifiting alternative assets like Bitcoin.
In parallel, the rally triggered a short squeeze of over US$200 million, as traders who had bet against the asset were forced to buy back their positions, further accelerating the price momentum.
Luno's country manager for Malaysia, Scarlett Chai, said, 'The crypto market has evolved so much in the past couple of years, largely led by Bitcoin.
'Today, despite the scepticism of the asset class, Bitcoin is the fififth largest asset by market cap after Apple – one of the world's most recognisable brands'.
Bitcoin's bullish momentum has also led to a rally in other coins, known as altcoins, including Stellar (XLM), Alogrand (ALGO), and Hedera (HBAR), which have seen over a 50 per cent price increase in a week.
These are among the altcoins Luno has proposed to the Securities Commission Malaysia that were aligned with the regulator's requirements.
Of the three coins above, ALGO and HBAR were launched this year, part of Luno's effort in expanding the list of tradable digital assets in the country.
Chai added, 'We've not seen a demand like this from institutions. Investors are optimistic about the US government's supportive stance toward crypto, which makes them confifident about Bitcoin's future'.
Chai also cautioned investors of a possible rise in investment scams taking advantage of Bitcoin's reignited popularity. 'Steer clear of any investment schemes that seem too good to be true, especially if they're social media advertisements promising good returns.
'Regulated crypto exchanges will never engage third parties to facilitate the investment or trade on your behalf', she concluded.
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