Bitcoin's record-breaking rally took the digital asset past $89,000 (about R1.6 million) and lifted the overall value of the crypto market above its pandemic-era peak as traders bet on a boom under President-elect Donald Trump.
The largest token has jumped about 32% since the US election on 5 November, hitting an all-time high of $89,599 yesterday. The original cryptocurrency changed hands at $88,450 as of 5:45 am in London.
Trump has vowed friendlier crypto rules and his Republican Party is tightening its grip on Congress, boosting his odds of pushing through his agenda. Trump's other pledges include setting up a strategic Bitcoin stockpile and fostering domestic mining of the token to make the US the crypto capital of the planet.
This story is from the November 13, 2024 edition of The Citizen.
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This story is from the November 13, 2024 edition of The Citizen.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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