Bitcoin It breached the $95,000 level for the first time on Wednesday evening as investors continued to price in a second Donald Trump presidency.
The flagship cryptocurrency was last up more than 3% at $97,646.68, according to CoinMetrix. Before that, it rose to $97,788.00.
Shares of MicroStrategyA bitcoin proxy gained 3% in extended trades. Along with mining stocks, rose Mara Holdings up to 4%.
Bitcoin continues its march towards $100,000.
Bitcoin has been regularly hitting fresh records this month on hopes that Trump will usher in a golden age for crypto, which will include more supportive regulations for the industry and a possible national strategic bitcoin reserve or stockpile.
It is expected to reach a massive $100,000 this year and double by the end of 2025.
“Bitcoin’s price is being driven by a number of factors, including improving liquidity conditions, increased institutional authority, and a regulatory environment that is a tailwind from one end to the other,” said Sam Callahan, analyst at Swan Bitcoin. has turned to.”
Another Trump term also means bigger budget deficits, possibly higher inflation and changes in the international role of the dollar – all things that will have a positive impact on the price of bitcoin.
Bitcoin has increased by more than 127% in 2024.
