Bitcoin surged to a new all-time high, surpassing $94,000, driven by a combination of news surrounding Donald Trump’s social media company and a growing sense of optimism in the cryptocurrency market.
The rise follows reports that Trump Media and Technology Group (which operates Truth Social) is close to acquiring crypto trading firm Bakkt in an all-stock deal. The deal, which could be a signal of greater cryptocurrency acceptance under the incoming Trump administration, sparked significant market movement.
Bitcoin, the largest and most well-known cryptocurrency, has more than doubled in value this year, hitting $92,104 during Asian trading hours on Wednesday, after briefly peaking at $94,078 in the previous session.
