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In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNT Getty Images Bitcoin breached the $95,000 level for the first time Wednesday evening as investors continued pricing in a second Donald Trump presidency. The price of the flagship cryptocurrency was last higher by more than 3% at $97,646.
68, according to Coin Metrics. Earlier, it rose as high as $97,788.00.
Shares of MicroStrategy , a bitcoin proxy, gained 3% in extended trading. Mining stocks rose as well, with Mara Holdings up 4%. Stock Chart Icon Stock chart icon Bitcoin continues its march toward $100,000 Bitcoin has been regularly hitting fresh records this month on hopes that Trump will usher in a golden age of crypto, which would include more supportive regulation for the industry and a potential national strategic bitcoin reserve or stockpile.
It is widely expected to reach $100,000 this year and double by the end of 2025. "Bitcoin's price continues to be driven by a number of factors including improved liquidity conditions, increased institutional adoption, and a regulatory environment that has flipped from a headwind to a tailwind," said Sam Callahan, an analyst at Swan Bitcoin. Another Trump term also implies larger budget deficits, potentially more inflation and changes to the international role of the dollar – all things that would have a positive impact on the price of bitcoin.
Bitcoin has gained more than 127% in 2024. Don't miss these cryptocurrency insights from CNBC PRO: As bitcoin wraps up a big week, the case is made for $200,000 Memecoin gains will fade as crypto rally presses on. Look to these instead, says Bank of America These stocks have the highest positive correlation with bitcoin, including some lesser-known names Wall Street sees a buying opportunity in these crypto mining stocks as bitcoin marches to new records.
