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Bitcoin at record highs, sets sights on $100,000

By
Reuters
Published Nov. 22, 2024, 3:50 a.m. ET

Bitcoin touc𒆙hed a fresh record high on Friday, with i꧂ts sights set firmly on the $100,000 barrier, in a stellar rally for the cryptocurrency sparked by expectations of a more friendly regulatory environment under a Donald Trump administration.

It has more than doubled in value this year and is up about 45% in the two weeks since Trump’s sweeping election victory, which has also seen a slew of pro-crypto lawmakers being elected to Congress.

Bitcoin is nearing the $100,000 barrier.
Bitcoin touched a fresh record high on Friday, nearing the $100,000 barrier. REUTERS
The cryptocurrency has surged 45% since Donald Trump won the election.
The cryptocurrency has surged 45% since Donald Trump won the election. AP

The crypto currency was last up just over 1% on the day at $99,380 BTC=, and is on 🐟track for its 🔯best monthly performance since February.

Its surge has made bitcoin one of the stand out winners of so-called “Trump trades” – assets that are seen as winning or losing from Trump’s policies.