Bitcoin touches record high above $93,000 on optimism around Trump's pro-crypto promises

Yahoo Finance2024-11-14

Bitcoin (BTC-USD) prices traded to a record high on Wednesday, peaking north of $93,400 in a continuation of the crypto rally that has broken out following Donald Trump's election win last week. The ...

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The meme coin soared after Trump said Tesla  CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy will be in charge of a new “Department of Government Efficiency”, or DOGE for short.The upward move in bitcoin on Wednesday appeared more isolated to cryptocurrencies than in prior sessions.Read the latest financial and business new","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4112":"金融交易所和数据","BK4548":"巴美列捷福持仓","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0823414478.USD":"法巴经典能源转换基金","COIN":"Coinbase Global, Inc.","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","BK4539":"次新股","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","BK4554":"元宇宙及AR概念","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","SG9999015978.USD":"利安颠覆性创新基金A","TSLA":"特斯拉","BK4534":"瑞士信贷持仓","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","HOOD":"Robinhood","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","BK4588":"碎股","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4547":"WSB热门概念","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4516":"特朗普概念","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4581":"高盛持仓","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC"},"translate_title":"由于对特朗普支持加密货币的承诺持乐观态度，比特币股价触及93,000美元以上的历史新高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1,"HOOD":1,"COIN":0.9},"content_text":"Bitcoin (BTC-USD) prices traded to a record high on Wednesday, peaking north of $93,400 in a continuation of the crypto rally that has broken out following Donald Trump's election win last week. \nThe world's largest cryptocurrency, which has been at the center of the \"Trump trade\" catalyzing moves across a range of assets, is up more than 30% since Election Day. \nThe price of bitcoin has more than doubled this year.\nInvestors have flocked to bitcoin and other digital assets under the presumption that Trump will follow through with his pro-crypto campaign promises. \nThe president-elect has suggested appointing a crypto Presidential Advisory Council, firing SEC Chair Gary Gensler, and creating a \"strategic national bitcoin stockpile.\"\nOther cryptocurrencies also rose on Wednesday including Ethereum (ETH-USD), Solana (SOL-USD), and even Doge (DOGE-US). The meme coin soared after Trump said Tesla (TSLA) CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy will be in charge of a new “Department of Government Efficiency”, or DOGE for short.\nThe upward move in bitcoin on Wednesday appeared more isolated to cryptocurrencies than in prior sessions.\nCrypto-related equities — including names like Coinbase (COIN) and Robinhood (HOOD) — weren't participating alongside bitcoin's run to record levels, appearing to take a breather after recent runs higher, with Coinbase stock off about 2% on Wednesday and Robinhood little-changed. \n\n\n\n  Bitcoin rose more than 6% to a new record by 12:15 p.m. ET on Wednesday\n \n\nWhile investors may be eyeing targets of $100,000, some Wall Street analysts continue to warn clients about the \"speculative\" nature of cryptocurrencies, which cannot be valued on earnings or future cash flows in the same way as most stocks. \n\"We continue to view crypto assets as a speculative trade rather than a strategic investment in portfolios,\" UBS Global Wealth Management chief investment officer Americas, Solita Marcelli said in note on Tuesday. \n\"We are skeptical that crypto assets can make significant inroads in meaningful and disruptive real-world use cases, and they can significantly raise a portfolio’s volatility,\" Marcelli added. \nThe firm highlighted that since 2014, there have been three major drawdowns surpassing 70% in bitcoin, from which it has taken an average of three years to recover. \n\n\n\n  Then Republican presidential candidate former President Donald Trump speaks at the Bitcoin 2024 Conference on July 27, 2024, in Nashville, Tenn. (AP Photo/Mark Humphrey, File)\n \n\n  ASSOCIATED PRESS\n \n\nInes Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.\nClick here for in-depth analysis of the latest stock market news and events moving stock prices\nRead the latest financial and business news from Yahoo Finance","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483985823"}