Bitcoin reached a new peak above $90,000 on Wednesday as optimism soared after president-elect Donald Trump’s promises to ease rules around digital currencies. The leading cryptocurrency spiked to an all-time high of $91,000 before settling at $90,670.
Since Trump’s victory in last week’s election, Bitcoin’s value has surged, setting new records multiple times. During his campaign, Trump shared his vision to make the U.S. the “Bitcoin and cryptocurrency capital of the world.”
In his previous term, Trump’s corporate tax cuts boosted market liquidity, fueling further investment in digital currencies.
In September, Trump announced his own venture into the crypto world with the launch of “World Liberty Financial,” a digital currency platform developed with his sons and other entrepreneurs. However, its initial launch didn’t go as planned, with only a small portion of its tokens finding buyers.
Cryptocurrencies have always grabbed headlines, from their wild price swings to the collapse of major players like the FTX exchange. Recently, Trump reportedly became the first former president to use Bitcoin in a purchase, paying for burgers in New York City in what the restaurant called a “historic transaction.”
