Bitcoin price today: hits new high near $91k as Trump rally marches on
© Reuters
Bitcoin touched new record highs on Wednesday, as optimism over a Donald Trump presidency continued to support investor sentiment, News.Az reports citing Investing.
Major meme token Dogecoin also soared higher, continuing its stellar run-up to three-year highs in recent sessions after Trump confirmed Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE).
Bitcoin shot up to record highs of nearly $91,000 this week, as crypto saw a week-long rally after Trump’s election victory. But focus was now on just what his policies will entail for crypto, as well as the broader U.S. economic outlook.
The world’s largest cryptocurrency climbed more than 5% to $90,250.0 by 09:53 ET (14:53 GMT).
Bitcoin soars as Trump rally continues
Bitcoin continued registering new highs as enthusiasm over Trump’s election win now appeared continued, with focus turning to more cues on his planned policies.
Trump has vowed to make America the crypto capital of the world, and has even floated the idea of a national Bitcoin reserve. Crypto proponents expect this to result in a friendlier regulatory environment, lending Bitcoin more credibility as an investment vehicle.
On the economic front, Trump is widely expected to dole out more expansionary policies, which could potentially underpin inflation and interest rates in the long term.
Q4 of 2024 could be 'one for the books' for Bitcoin, says Nexo founder
Commenting on Bitcoin's latest surge, Nexo co-founder Antoni Trenchev said this isn't a "typical rally" but rather "a movement underpinned by a serious shift in the market’s fundamentals and maturity."
Major meme token Dogecoin also soared higher, continuing its stellar run-up to three-year highs in recent sessions after Trump confirmed Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE).
Bitcoin shot up to record highs of nearly $91,000 this week, as crypto saw a week-long rally after Trump’s election victory. But focus was now on just what his policies will entail for crypto, as well as the broader U.S. economic outlook.
The world’s largest cryptocurrency climbed more than 5% to $90,250.0 by 09:53 ET (14:53 GMT).
Bitcoin soars as Trump rally continues
Bitcoin continued registering new highs as enthusiasm over Trump’s election win now appeared continued, with focus turning to more cues on his planned policies.
Trump has vowed to make America the crypto capital of the world, and has even floated the idea of a national Bitcoin reserve. Crypto proponents expect this to result in a friendlier regulatory environment, lending Bitcoin more credibility as an investment vehicle.
On the economic front, Trump is widely expected to dole out more expansionary policies, which could potentially underpin inflation and interest rates in the long term.
Q4 of 2024 could be 'one for the books' for Bitcoin, says Nexo founder
Commenting on Bitcoin's latest surge, Nexo co-founder Antoni Trenchev said this isn't a "typical rally" but rather "a movement underpinned by a serious shift in the market’s fundamentals and maturity."
Similar news
