1 day Ago By Ankur Banerjee
Bitcoin has risen to a record high above $US94,000 ($A144,000) as a report that Donald Trump's social media company was in talks to buy crypto trading firm Bakkt added to hopes of a cryptocurrency-friendly regime under the incoming Trump administration. Bitcoin, the world's biggest and best-known cryptocurrency, has more than doubled in 2024. It was last at $US92,104 ($A141,025) in Asian hours on Wednesday, having touched a record high $US94,078 ($A144,048) just toward the end of the previous session.
The Financial Times, citing two people with knowledge, said Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, which is backed by NYSE-owner Intercontinental Exchange. Tony Sycamore, market analyst at IG, said bitcoin's rise to a record high was supported by the Trump deal talk report as well as traders taking advantage of the first day of options trading on the Nasdaq over BlackRock's Bitcoin ETF. Cryptocurrencies have soared since the November 5 US 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 $US3 trillion ($A4.6 trillion) to a record high, based on analytics and data aggregator CoinGecko. Chris Weston, head of research at Australian online broker Pepperstone, said there is real underlying buying pressure for bitcoin, and "another kick higher should bring in a fresh chase from those who like to buy what's strong".
.
