Crypto giant Bitcoin topped a new all-time high of $97,000 as the digital asset sector rallied on the back of Donald Trump’s victory, who has a policy interest in cryptocurrencies.
Trump’s team is in talks to continue the digital currency boom and the industry is looking for positions with direct access to the president, who is one of crypto’s biggest cheerleaders.
The talks are the latest U.S. boost to digital asset market sentiment, along with MicroStrategy Inc.’s bitcoin stock accelerating its token purchases and the emergence of the nation’s first Bitcoin exchange-traded fund.
The digital asset is up more than 2% since it opened in Asian trading on Thursday, with the crypto market as a whole adding about $900 billion in gains since Trump’s victory.
Market participants are now eyeing Bitcoin’s next move to $100,000, a testament to the digital currency’s strength.
MicroStrategy, the largest corporate holder of bitcoin, on Wednesday announced a nearly 50% increase in planned note sales to $2.6 billion to fund the token purchase.
Trump recently vowed to create a U.S. crypto regulatory framework that supports and provides for strategic Bitcoin holdings.
The president-elect was previously a crypto skeptic but changed tack after digital asset firms spent heavily during the election campaign to promote his influence.
