Synopsis
Bitcoin soared to an all-time high, surpassing $94,000, fueled by reports of a potential acquisition of crypto trading platform Bakkt by Donald Trump’s social media company. This surge, coupled with the debut of options trading for BlackRock’s Bitcoin ETF on Nasdaq, has intensified speculation about a crypto-friendly environment under the incoming Trump administration.
SING ORE – Bitcoin rose to a record high above $94,000 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 this year. It was last at $92,104 in Asian hours on Wednesday, having touched a record high $94,078 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.
Crypto Tracker
TOP COIN SETSDeFi Tracker8.53% BuyCrypto Blue Chip – 57.31% BuyNFT & Metaverse Tracker7.13% BuySmart Contract Tracker3.98% BuyBTC 50 :: ETH 500.27% BuyTOP COINS (₹) Bitcoin7,750,833 (0.73%)BuyTether85 (0.09%)BuyBNB51,660 (-1.17%)BuyEthereum261,407 (-1.96%)BuySolana19,754 (-2.37%)Buy 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.
Did you Know?
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View Details » Cryptocurrencies have soared since the Nov. 5 U.S. 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.
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The growing excitement has taken the global cryptocurrency market’s value above $3 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”.
