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Bitcoin Hits All-Time High of $94,000 as Post-Election Rally Continues

 Donald Trump gives a keynote speech on the third day of the Bitcoin 2024 conference at Music City Center July 27, 2024 in Nashville, Tennessee.
Donald Trump speaking at the🌌 Bitcoin 2024 conferen🔜ce in Nashville, Tennessee, on July 27, 2024.

Jon Cherry / Getty Images

Key Takeaways

  • Bitcoin hit a record high of just above $94,000 on Tuesday afternoon.
  • The cryptocurrency has surged in the two weeks since Donald Trump's victory in the presidential election.
  • Options trading on Blackrock's iShares Bitcoin Trust began Tuesday, according to reports.

The price of Bitcoin hit a record high on Tuesday afternoon, continuing its dramatic ascent in the two weeks since 🍬Donald Trump’s victory in the presidential election.

The cryptocurrency moved as high as $94,000 in afternoon trading, according to the crypto tracker CoinMarketCap. Bitcoin hit a previous record of over 澳洲幸运5官方开奖结果体彩网:$93,000 last week and h𓃲as teetered around the $90,000 level in recent days. 

The historically volatile asset has exploded since Trump’s election, jumping nearly 35% from about $70,000 at 9 p.m. ET on the night of the election. Investors are optimistic that the president-elect's support of cryptocurrencies, as well as backing from a crypto-friendly Congress, will lead to policies that benefit the asset class.

The fresh record comes after a Financial Times report Monday that Trump Media & Technology Group (DJT), in which Trump holds a 53% stake, is in talks to 澳洲幸运5官方开奖结果体彩网:buy cryptocurrency trading platform Ba💟kkt (BKKT).

Bitcoin ETF Options Trading Begins 

Investors looking for another way to get involved in Bitcoin will be able to 澳洲幸运5官方开奖结果体彩网:trade options on Blackrock’s (BLK) 澳洲幸运5官方开奖结果体彩网:iShares Bitcoin Trust, a $42 billion ETF that launched in January, beginning Tuesday, according to reporting from Barron’s and others.

In fact, options trading volume for the ETF reached more than $446 million in its first few hours, according to a report from CryptoSlate.

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  2. Barron’s. “”

  3. CryptoSlate. “”

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