Bitcoin Skyrockets to Historic Highs Amid Institutional Demand and Trump Policies

Bitcoin has surged to new record levels, driven by institutional investors and favorable U.S. policies under President Donald Trump's administration. The cryptocurrency peaked at $116,046.44, marking a 24% increase this year. Trump's strategic cryptocurrency reserves and involvement in crypto ventures have propelled this growth.

Bitcoin has achieved unprecedented highs, bolstered by demand from institutional investors and supportive measures enfostered under President Donald Trump's administration.

The leading cryptocurrency reached an impressive peak of $116,046.44, surpassing its previous record of $113,734.64 set earlier the same day, marking a notable 24% growth this year. Significant contributing factors include President Trump's March executive order to establish a strategic cryptocurrency reserve and the appointment of several advocates into influential positions.

Trump's business interests also extend into cryptocurrencies. The Trump Media & Technology Group is planning to launch an exchange-traded fund designed to invest in multiple crypto tokens, including Bitcoin, as outlined in a recent SEC filing. Meanwhile, Ethereum has seen a 3.01% rise to $2,905.24, enhancing overall market enthusiasm.

(With inputs from agencies.)