Submit a comment
Bitcoin prices have hit a new record high, surpassing $95,000 for the first time, boosted by expectations that US President-elect Donald Trump will ease regulations on digital currencies.
Bitcoin hit $95,004.50 in its first trading session in Asia, with many predicting that the world's largest digital currency will soon hit $100,000. Bitcoin has surged nearly 40% since Trump won the US presidential election earlier this month.
Donald Trump, during his election campaign, pledged to make the US "the Bitcoin and cryptocurrency capital of the world".
Stephen Innes, an analyst at SPI Asset Management, said that Bitcoin's price increase was due to investors' growing expectations that the Trump administration would usher in a "friendly era" for digital currencies. This expectation has created an investment frenzy as Bitcoin's value is heading towards unprecedented valuations.
