Bitcoin surges to a new record high

Bitcoin has hit a new record high, driven by optimism over upcoming US stablecoin regulations and political support from Donald Trump.
News Image

The bitcoin has reached a new record level. The world's most traded cryptocurrency rose on Wednesday to a price of $109,302. Investors in cryptocurrencies were optimistic about the arrival of new regulations in the United States for stablecoins, or digital currencies that are linked to a fixed value.

The record follows the news that the US Senate can consider a bill for the regulation of stablecoins. Earlier, critical Democrats blocked the consideration of the proposal, but the Senate voted to remove this obstacle.

Bitcoins and other cryptocurrencies have been on the rise since the election of Donald Trump as president of the US. He wants to relax regulations and supervision around digital currencies and promised during his campaign to make the US the 'cryptocurrency capital' of the world. The now broken record of the bitcoin dates from January 20, the day of Trump's inauguration.