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London market embraces Bitcoin as it reaches record high of $97K due to Trump’s policies | N18G

Bitcoin rose to a record high of $97,902 on November 21, 2024, fueled by optimism about a more crypto-friendly regulatory environment under President-elect Donald Trump. Investors speculated that Trump’s promises to support digital assets would lead to less stringent regulations, which would help revive the cryptocurrency market. The rally was also boosted by news that Trump’s social media company, Truth Social, was in talks to acquire cryptocurrency trading firm Bakkt, which is backed by the NYSE Intercontinental Exchange. As a result, Bitcoin’s value has more than doubled in 2024 and is approaching the $100,000 mark. The global cryptocurrency market has surpassed a $3 trillion valuation, with some UK market providers reporting increased sales from Bitcoin payments. While Bitcoin’s instability has limited its use as a mainstream payment method, its recent successes suggest it may be on the cusp of wider adoption. Pro-cryptocurrency lawmakers in the US Congress are further supporting this trend.