The meteoric pace of the record-breaking rally in Bitcoin is making one of the most popular trades for crypto hedge funds even more lucrative than usual, likely helping to propel the original digital currency even higher to once unfathomable heights.
Bitcoin, which has surged around 25% since a now more crypto friendly Donald Trump won the US presidential election last week, jumped as much as 6.3% to an all-time high of almost $85,000 on Monday. That has pushed the spread between Bitcoin futures and the digital currency’s price to the most since March, when prices surged to a previous record after the introduction of US exchange-traded funds holding the tokens.
