Bitcoin surges past $90K mark for first time
Add Axios as your preferred source to
see more of our stories on Google.
Bitcoin continued its blistering hot streak Wednesday, breaking through the $90,000 price threshold for the first time.
Why it matters: The world's oldest cryptocurrency is an element of the Trump trade that's shown no signs of stopping.
Catch up quick: The president-elect adopted a love of the cryptocurrency industry on the campaign trail.
- He has promised to create a much more pro-crypto regulatory environment in the U.S., and back in July said he would create a federal bitcoin stockpile.
Meanwhile, October inflation came in as expected Wednesday morning, leading to firmer expectations in the futures market for a rate cut next month. Bitcoin surged following the data.
The latest: Bitcoin was trading at $93,005 late Wednesday morning, up over 8% over the past 24 hours.
Context: The so-called orange coin is now up more than 32% since Donald Trump's election victory became apparent on November 5, and up over 40% over the past 30 days.
