Bitcoin surges to reach record high
Date
11/24/2024 2:15:40 AM
(MENAFN) The price of Bitcoin has kept increasing, hitting the USD94,000 threshold for the initial time on Wednesday. The recent push has been fueled by reports that US President-elect Donald Trump’s social media firm is in discussions to obtain crypto platform Bakkt, experts state.
The flagship cryptocurrency was trading at nearly USD94,472 per coin, a surge by over 3 percent as of 14:30 GMT. The price has more than doubled since the beginning of 2024.
Crypto-related stocks Coinbase Global, MicroStrategy as well as Robinhood Markets were all greater in pre-market trading.
At USD1.8 trillion, Bitcoin is now the seventh-greatest financial asset by market capitalization, exceeding energy giant Saudi Aramco and moving closer to technology companies Amazon as well as Google. In summary, the overall market cap of all cryptocurrencies eclipsed USD3 trillion the current week, up by around 85 percent since January.
The recent crypto advance comes following the Financial Times published on Monday that Donald Trump’s social media firm was holding discussions to purchase crypto trading company Bakkt.
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