US President Donald Trump has recently signed an executive order to establish a strategic bitcoin reserve, using cryptocurrencies already owned by the US government.
Regulators have long warned that cryptocurrencies like bitcoin are high-risk assets, with limited uses in the real world. High volatility has been another barrier to wide adoption as a means of payment.
Bitcoin , the world's biggest and best known cryptocurrency, hit a high of $106,533 and last traded up 3.2 percent to $104,462
Donald Trump won the US election promising to make the country the "bitcoin and cryptocurrency capital of the world":
The digital unit has advanced more than 50 percent since the tycoon's poll win -- and around 134 percent since the turn of the year
Trump’s team has met with industry executives to discuss creating a White House job focused on cryptocurrency policy.
Bitcoin's value has soared to a record high of above $95,040, as excitement builds around a potentially supportive approach to cryptocurrencies under President-elect Donald Trump.
It was last at $92,104 in Asian hours on Wednesday, having touched a record high $94,078 just toward the end of the previous session.
Trump's impending presidency has spurred an enthusiastic market response, with bitcoin surging more than 25 percent in a week and breaking through the $90,000 mark for the first time
US President Donald Trump has recently signed an executive order to establish a strategic bitcoin reserve, using cryptocurrencies already owned by the US government.
Regulators have long warned that cryptocurrencies like bitcoin are high-risk assets, with limited uses in the real world. High volatility has been another barrier to wide adoption as a means of payment.
Bitcoin , the world's biggest and best known cryptocurrency, hit a high of $106,533 and last traded up 3.2 percent to $104,462
Donald Trump won the US election promising to make the country the "bitcoin and cryptocurrency capital of the world":
The digital unit has advanced more than 50 percent since the tycoon's poll win -- and around 134 percent since the turn of the year
Trump’s team has met with industry executives to discuss creating a White House job focused on cryptocurrency policy.
Bitcoin's value has soared to a record high of above $95,040, as excitement builds around a potentially supportive approach to cryptocurrencies under President-elect Donald Trump.
It was last at $92,104 in Asian hours on Wednesday, having touched a record high $94,078 just toward the end of the previous session.
Trump's impending presidency has spurred an enthusiastic market response, with bitcoin surging more than 25 percent in a week and breaking through the $90,000 mark for the first time
Bitcoin surged past $90,000 on Wednesday, setting a new record as investors bet on favourable cryptocurrency policies under Donald Trump’s administration.
