Bitcoin hit an all-time high above $90,000 on Wednesday, driven by President-elect Donald Trump’s commitment to easing regulations on digital assets.
The world’s largest cryptocurrency surged to a peak of $91,000 before stabilizing at $90,670.
The digital currency has experienced significant gains since Trump’s US presidential election victory last week, consistently breaking new records.
Throughout his campaign, Trump pledged to position the United States as the “Bitcoin and cryptocurrency capital of the world,” which has bolstered investor confidence.
Trump’s first term saw corporate tax cuts that enhanced market liquidity, fueling interest in cryptocurrency investments.
In September, he revealed plans to launch a digital currency platform, World Liberty Financial, with his sons and a group of entrepreneurs.
However, the platform’s sales launch earlier this month fell short of expectations, with only a small portion of tokens sold.
Cryptocurrencies have attracted global attention due to their extreme volatility, with high-profile industry collapses like the FTX exchange further emphasizing the risks involved.
Ahead of the election, Trump made headlines by reportedly becoming the first former president to use Bitcoin in a transaction, purchasing burgers at a New York restaurant that called it a “historic transaction.”
AFP
