Bitcoin hits new record high amid growing demand
Bitcoin surged to another all-time high on Thursday, fueled by increasing demand from institutional investors and supportive policies under the administration of U.S. President Donald Trump.
The world's largest cryptocurrency rose to a fresh record high of $113,734.64. It is now up about 21% this year, News.Az reports, citing Reuters.
In March, Trump signed an executive order to establish a strategic reserve of cryptocurrencies. He has also appointed several crypto-friendly individuals, including Securities and Exchange Commission Paul Atkins and White House AI czar David Sacks.
Trump's family businesses have also made forays into cryptocurrencies. Trump Media & Technology Group (DJT.O) is looking to launch an exchange-traded fund that will invest in multiple crypto tokens including bitcoin, according to an SEC filing on Tuesday.
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