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Analyst Brett Knoblauch explains MicroStrategy's move to purchase US$2B worth of
bitcoin
amid a cryptocurrency frenzy.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.
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Bitcoin has hit a record high of $94,000 The price of Bitcoin has doubled this yearđ Bitcoin, the world's largest and most popular cryptocurrency, crossed the $94,000 mark on Wednesday. Bitcoin hit an all-time high of $94,078 on Wednesday, doubling its price this year, after a report claimed that US President-elect Donald Trump's social media company, Crypto Trading Firm Negotiating to buy. According to a report in the Financial Times, Trump Media and Technology Group, which operates a platform called Truth Social, is close to an all-stock deal for Bitcoin, which is run by the Intercontinental Exchange, the company that owns the New York Stock Exchange. According to market experts, news of Trump's company buying buckets and the effects of the first day of options trading in BlackRock's bitcoin ETF Pernesdeck have pushed the price of bitcoin to new highs. Traders hope that President-elect Donald Trump's administration will provide a friendly environment for cryptocurrencies, which will breathe new life into the sector. The total value of the crypto market has crossed $3 trillion, a record high. Chris Weston, head of research at Australian online broker Pepperstone, says bitcoin is seeing pressure from real buyers, and is expected to see further price increases.
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