Bitcoin soars past $94,000, hits record all-time high
New York/IBNS: Bitcoin has surpassed the $94,000 mark for the first time, achieving a record all-time high, fueled by reports of potential crypto-friendly moves under US President-elect Donald Trump.
According to Reuters, on Nov. 20, Donald Trump’s social media company, Trump Media and Technology Group (TMTG), is reportedly in talks to acquire crypto trading firm Bakkt in an all-stock deal.
These developments have bolstered optimism that Trump’s second term in the White House will foster a supportive regulatory environment for digital assets.
The world’s leading cryptocurrency has experienced significant growth throughout 2024, more than doubling its value.
It briefly touched $94,078 at the close of the previous trading session before pulling back to $92,104 in Asian markets early on Nov. 20.
As reported by The Financial Times, Bakkt, which is supported by Intercontinental Exchange (the parent company of the New York Stock Exchange), is at the center of acquisition discussions with TMTG.
Since Trump’s victory in the 2024 US Presidential elections, the cryptocurrency market has seen a surge in momentum, driven by expectations of favourable regulatory changes.
The excitement has propelled the global crypto market value to a record $3.2 trillion, according to data from CoinGecko.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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