- Bitcoin breached the $97,000 level for the first time Wednesday evening as investors continued pricing in a second Donald Trump presidency.
- Bitcoin has been regularly hitting fresh records this month on hopes that Trump will usher in a golden age of crypto.
- Bitcoin has gained more than 127% in 2024.
Bitcoin breached the $95,000 level for the first time Wednesday evening as investors continued pricing in a second Donald Trump presidency.
WATCH ANYTIME FOR FREE
 |
Stream NBC10 Boston news for free, 24/7, wherever you are. |
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 $97,903.00.
Shares of MicroStrategy, a bitcoin proxy, gained 3% in extended trading. Mining stocks rose as well, with Mara Holdings up 4%.
Get updates on what's happening in Boston to your inbox. Sign up for our News Headlines newsletter.
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.
Money Report
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.
