Bitcoin nears $90,000 as investors eye crypto-friendly Trump administration
Al Jazeera
The world’s most popular cryptocurrency has gained more than 30 percent since the US presidential election.
Bitcoin is closing in on $90,000 as crypto enthusiasts bet on United States President-elect Donald Trump taking a hands-off approach to digital currencies.
The world’s most popular cryptocurrency hit a record high of $89,637 on Tuesday, continuing its explosive rally since the US presidential election on November 5.
The commodity has gained more than 30 percent since election day, with investors anticipating Washington to take a turn towards more crypto-friendly policies under Trump.
During his first term as president, Trump called Bitcoin a “scam” and complained that the currency was “competing against the dollar”.
The Republican, however, radically changed course during his re-election campaign to cast himself as a crypto champion.
