Bitcoin hits record high of $116,781 on institutional investor demand
Bitcoin rallied to an all-time high on Friday, powered by demand from institutional investors and friendly policies of US President Donald Trump’s administration.
The world’s largest cryptocurrency rose to a peak of $116,781.10 in the Asian session on Friday, taking its gains for the year thus far to more than 24%.
In March, Trump signed an executive order to establish a strategic reserve of cryptocurrencies. He has also appointed several crypto-friendly individuals, including Securities and Exchange Commission Paul Atkins and White House artificial intelligence czar David Sacks.
