Bitcoin has surged beyond $119,000, fueled by significant institutional investment from major players such as MicroStrategy and BlackRock. This price increase underscores a renewed bullish sentiment in the market, with MicroStrategy alone holding over 582,000 BTC. The ongoing institutional demand, which surpasses the daily supply of Bitcoin, is a key factor in the cryptocurrency's upward trajectory. Analysts are optimistic, with some projecting that Bitcoin's price could reach as high as $230,000 if the current trend continues.