Bitcoin struck a record high above $93,000 Wednesday as the world’s biggest cryptocurrency benefits from president-elect Donald Trump’s pledge to ease regulation around digital tokens
The volatile asset has rocketed more than 30 percent in value since Trump won last week’s US presidential election, smashing its record-high on several occasions and breaching $90,000 for the first time Wednesday.
The Republican said during campaigning that he planned to make the United States the “bitcoin and cryptocurrency capital of the world”.
“The main catalyst for the recent surge on the price of bitcoin is the victory of Donald Trump,” Alexander Londono, market analyst at ActivTrades, noted Wednesday.
“This is due to the fact that Trump has been an outspoken supporter of cryptocurrencies and is willing to deregulate the sector to make it more investor friendly.”
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