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Time of India
5 days ago
- Business
- Time of India
Bitcoin hits record high above $124,000
Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favourable US legislation and a rise in US cryptocurrency rose above its previous July record, briefly exceeding $124,500 before stocks ended higher Wednesday, with the S&P 500 index and the tech-heavy Nasdaq reaching new heights this week, contributing to the cryptocurrency's value has recently soared, fuelled by US regulatory changes under US President Donald Trump, a strong backer of the crypto price has also been boosted by large holders of cryptocurrency, referred to as "whales"."The crypto market is enjoying a period of highly favorable fundamentals," said Samer Hasn, senior market analyst at Donald Trump has moved to end restrictions that previously prevented banks from doing business with companies flagged for reputational risk concerns, a category in which crypto firms were often unfairly placed," he may also be inclined to "accelerate the integration of cryptocurrencies into the national financial system and lift additional restrictions, given his and his family's growing involvement in the sector", Hasn media group and Tesla, the electric carmaker owned by tech billionaire Elon Musk, are among an increasing number of companies buying huge amounts of bitcoin.
Economic Times
5 days ago
- Business
- Economic Times
Bitcoin hits record high above $124,000
TIL Creatives Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favourable US legislation and a rise in US cryptocurrency rose above its previous July record, briefly exceeding $124,500 before retreating. US stocks ended higher Wednesday, with the S&P 500 index and the tech-heavy Nasdaq reaching new heights this week, contributing to the cryptocurrency's rise. Bitcoin's value has recently soared, fuelled by US regulatory changes under US President Donald Trump, a strong backer of the crypto price has also been boosted by large holders of cryptocurrency, referred to as "whales"."The crypto market is enjoying a period of highly favorable fundamentals," said Samer Hasn, senior market analyst at Donald Trump has moved to end restrictions that previously prevented banks from doing business with companies flagged for reputational risk concerns, a category in which crypto firms were often unfairly placed," he may also be inclined to "accelerate the integration of cryptocurrencies into the national financial system and lift additional restrictions, given his and his family's growing involvement in the sector", Hasn media group and Tesla, the electric carmaker owned by tech billionaire Elon Musk, are among an increasing number of companies buying huge amounts of bitcoin. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
