Key Takeaways
- Bitcoin hit a new record high of more than $111,800 around midnight ET Thursday, lifting shares of cryptocurrency-related firms.
- The digital asset hit the $110,000 mark for the first time Wednesday.
- The rally comes as the Senate voted to advance a bill that establishes a regulatory framework for stablecoins and as JPMorgan Chase CEO Jamie Dimon told investors the bank would allow clients to buy bitcoin.
Bitcoin (BTCUSD) hit a new record high of more than $111,800 around midnight ET Thursday, lifting shares of cryptocurrency-related firms.
The price of bitcoin, which surpassed $110,000 for the first time Wednesday, was recently trading just below $110,000.
Shares of mining companies MARA Holdings (MARA) and Riot Platforms (RIOT) were up 4.4% and 3.3%, respectively, an hour before the opening bell Thursday. Shares of cryptocurrency exchange Coinbase Global (COIN) were up about 2%, while those of Strategy (MSTR), the largest corporate holder of bitcoin, rose 1.6%.
The surge has come amid a busy week of crypto news. The Senate on Monday voted to advance a bill that establishes a regulatory framework for stablecoins, and JPMorgan Chase (JPM) CEO Jamie Dimon, a longtime crypto skeptic, said the bank would allow clients to buy bitcoin.
