Richard Teng, CEO of major cryptocurrency exchange Binance, recently issued a strong statement in support of Bitcoin (BTC$). He declared Bitcoin ($BTC) to be the “digital gold” of this era, as major crypto assets continue to hit new all-time highs. He made this statement regarding X, reaffirming the important role of Bitcoin ($BTC) in financial markets. At the same time, Bitcoin ($BTC) is attracting widespread institutional interest with a new ATH of $126,198.07.
#Bitcoin is the digital gold of our time.
— Richard Teng (@_RichardTeng) October 8, 2025
Binance CEO declares Bitcoin “digital gold” amid record ATH streak
Richard Teng’s bullish comments on Bitcoin ($BTC) come as the top cryptocurrency enjoys a continued upward trajectory. In this regard, it soared above $125,000 on October 5th, replacing its previous ATH of $124,000. It then hit a new all-time high of $126,198.07 on October 6th. This continued upward trajectory has encouraged the entry of institutional capital and strengthened its position as digital gold.
$BTC Gains Momentum, Monthly Profits Show 8.5% Growth
Following Binance CEO’s bullish stance on Bitcoin ($BTC), on-chain statistics highlight the upward momentum of the price. Notably, over the past month, Bitcoin has recorded a staggering 8.51% rise. Moreover, the weekly performance shows an increase of 4.56%. Furthermore, the 24-hour trading volume of the flagship crypto coin showed an increase of 19.6% and accounted for $80.63 billion.
Although everything looks bullish at the moment, there is also some bearish speculation. Historically, it has been observed that if the majority of traders are bullish, the market will undergo a correction. Therefore, it is better to keep this in mind as well to be prepared for all kinds of situations.
