The bitcoin price has reached a record high. The most traded cryptocurrency in the world was worth just over $112,000 (€95,431) around 10:00 PM on Wednesday.
Bitcoins and other cryptocurrencies have been on the rise since the election of Donald Trump as the 47th president of the United States. He wants to relax the regulations and supervision of digital currencies and promised during his campaign to make the US the “crypto capital” of the world.
On January 20, the day of Trump’s inauguration, the coin already reached a value of more than $109,000. But his trade war caused the value of bitcoin to plummet again.
The trade concerns now seem to have faded into the background. When Trump temporarily suspended many import duties a few months ago, the price went up again considerably. On May 22, the value of bitcoin had already risen to $111,980. It then took more than a month before that record could be broken.