Home Business Bitcoin hits $90k for the first time as Trump backs cryptocurrency

Bitcoin hits $90k for the first time as Trump backs cryptocurrency

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Bitcoin hits $90k for the first time as Trump backs cryptocurrency

Bitcoin soared to an all-time high above $90,000 on Wednesday, boosted by President-elect Donald Trump’s recent promises to ease regulations on digital assets.

The cryptocurrency reached a peak of $91,000 before stabilizing at $90,670.

Since Trump’s victory in the U.S. presidential election last week, Bitcoin has surged, consistently breaking records.

Bitcoin hits $90k for the first time as Trump backs cryptocurrency
Bitcoin hits $90k for the first time as Trump backs cryptocurrency

During his campaign, Trump pledged to make the U.S. the “Bitcoin and cryptocurrency capital of the world.”

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In his previous term, Trump’s corporate tax cuts increased market liquidity, which helped drive investment in cryptocurrencies.

In September, he announced a new digital currency platform, World Liberty Financial, in collaboration with his sons and entrepreneurs.

However, its launch earlier this month fell short of expectations, with only a small portion of tokens sold.

Cryptocurrencies continue to draw worldwide attention with their volatility and the collapse of key players like the FTX exchange.

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Ahead of the election, Trump reportedly became the first former president to use Bitcoin in a purchase, buying burgers at a New York restaurant that called it a “historic transaction.

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