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 $93,000 last week and has 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 buy cryptocurrency trading platform Bakkt (BKKT).
Bitcoin ETF Options Trading Begins
Investors looking for another way to get involved in Bitcoin will be able to trade options on Blackrock’s (BLK) 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.
