FILE – An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong, on Feb. 17, 2022. Bitcoin briefly hit an all-time high Tuesday, March 5, 2024, with the world’s largest cryptocurrency surpassing $68,800, according to CoinMarketCap. (AP Photo/Kin Cheung, File)
(Associated Press) – Bitcoin hit a new all-time high as the world’s most popular cryptocurrency reached price levels not seen since President Donald Trump’s inauguration.
The digital asset traded above $109,400 Wednesday morning, a huge increase from recent lows of about $75,000 last month.
Several other cryptocurrencies have seen similar large gains in recent days.
That includes Trump’s official meme coins, which have jumped up about 75% in the last month.
Bitcoin’s price increase comes after the crypto industry scored a major win with the U.S. Senate advancing legislation that creates a federal framework to regulate the stablecoins, a fast-growing form of cryptocurrency whose values are often tied to the U.S. dollar.
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