Bitcoin Hits Another Record High, Powered By Demand From Institutional Investors And Friendly Policies Of Trump

Reuters07-11

NEW YORK, July 10 (Reuters) - Bitcoin rallied to all-time highs on Thursday, powered by demand from institutional investors and friendly policies of U.S. President Donald Trump's administration.

The world's largest cryptocurrency BTC rose to $115,927.75 as of 19:22 ET, breaking the $113,734.64 record scored earlier on Thursday. It is now up about 24% this year.

In March, Trump signed an executive order to establish a strategic reserve of cryptocurrencies. He has also appointed several crypto-friendly individuals, including Securities and Exchange Commission Paul Atkins and White House artificial intelligence czar David Sacks.

Trump's family businesses have also made forays into cryptocurrencies. Trump Media & Technology Group DJT.O is looking to launch an exchange-traded fund to invest in multiple crypto tokens including Bitcoin, SEC filing on Tuesday showed.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • guss66
    07-11
    guss66
    Great article, would you like to share it?
Leave a comment
1
1