Bitcoin rose to a record high above $97,000 on Thursday (November 21) as investors bet a friendlier U.S. regulatory approach to cryptocurrencies under President-elect Donald Trump will unleash a boom era for the asset class, Reuters reports.
It hit a record high of $97,902 on Thursday, underpinned by a report Trump’s social media company was in talks to buy crypto trading firm Bakkt. The Financial Times, citing two people with knowledge, said Truth Social is close to an all-stock acquisition of Bakkt, which is backed by NYSE-owner Intercontinental Exchange.
Cryptocurrencies have soared since the Nov. 5 U.S. election as traders bet President-elect Trump’s promised support for digital assets would lead to a less restrictive regulatory regime and inject some life back into bitcoin after a listless few months.
The growing excitement has taken the global cryptocurrency market’s value above $3 trillion to a record high, based on analytics and data aggregator CoinGecko.
