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Bitcoin rose to a record high above $94,000 on Wednesday, following a report in the The Financial Times that Donald Trump’s social media company was in talks to buy crypto trading firm Bakkt. Expectations have been boosted of a crypto-friendly regime under his incoming administration in the US. Bitcoin, the world’s biggest and best-known cryptocurrency, has more than doubled this year.
It hit a high of $94,078 in early Asian trading hours yesterday. Read more The Financial Times reported that 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. “Trump’s seeming interest to push further into crypto on a personal level has contributed to optimism that crypto will be a top priority when Trump takes office,” said Stephane Ouellette, chief executive officer of crypto trading firm FRNT Financial.
Earlier this week, the Wall Street Journal reported Trump was meeting privately with Brian Armstrong, CEO of crypto exchange Coinbase, further aiding sentiment. Cryptocurrencies have soared since the US election as traders bet president-elect Trump’s promised support for digital assets would lead to a less restrictive regulatory regime. Read more.
