Bitcoin soars to historic high

(MENAFN) Bitcoin prices surged to a new all-time high on Wednesday, breaking through the $94,000 mark for the first time. The rise was fueled by reports suggesting that Donald Trump's social media company is in talks to acquire the crypto platform Bakkt, boosting market optimism. Bitcoin was trading at approximately $94,472, marking a more than 3% increase from the previous day and a significant gain of over 100% since the beginning of the year.

This surge has propelled Bitcoin to a market capitalization of $1.8 trillion, making it the seventh-largest financial asset, surpassing Saudi Aramco and approaching tech giants like Amazon and Google. The broader cryptocurrency market has also soared, with a total market cap of over $3 trillion, an 85% increase since January. Trump's involvement in the crypto space, including talks with Bakkt and promises to make the U.S. the "crypto capital of the planet," has fueled investor expectations for eased regulation and further growth in the sector. Some analysts believe Bitcoin could soon reach the $100,000 mark.

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