Zürcher Nachrichten - Bitcoin hits record high amid optimism over US legislation

EUR -
AED 4.232215
AFN 81.811225
ALL 97.979223
AMD 444.483784
ANG 2.06248
AOA 1056.812299
ARS 1340.766859
AUD 1.782073
AWG 2.07444
AZN 1.963769
BAM 1.956983
BBD 2.328207
BDT 141.025242
BGN 1.954826
BHD 0.434093
BIF 3433.975652
BMD 1.152467
BND 1.481428
BOB 7.967816
BRL 6.353668
BSD 1.153097
BTN 99.82634
BWP 15.541731
BYN 3.773763
BYR 22588.345428
BZD 2.3163
CAD 1.58251
CDF 3315.646835
CHF 0.942631
CLF 0.028263
CLP 1084.563727
CNY 8.284511
CNH 8.272986
COP 4701.775625
CRC 582.151879
CUC 1.152467
CUP 30.540365
CVE 110.33169
CZK 24.820447
DJF 204.816818
DKK 7.460613
DOP 68.381333
DZD 150.218061
EGP 58.324658
ERN 17.286999
ETB 158.568346
FJD 2.603941
FKP 0.858115
GBP 0.85647
GEL 3.135159
GGP 0.858115
GHS 11.877179
GIP 0.858115
GMD 82.4058
GNF 9991.03904
GTQ 8.862549
GYD 241.24582
HKD 9.046696
HNL 30.116204
HRK 7.536214
HTG 151.344763
HUF 402.706852
IDR 18944.591768
ILS 4.02004
IMP 0.858115
INR 99.824126
IQD 1510.613084
IRR 48547.656077
ISK 143.033075
JEP 0.858115
JMD 183.826696
JOD 0.817144
JPY 168.352902
KES 148.903066
KGS 100.783647
KHR 4621.893945
KMF 492.683845
KPW 1037.173976
KRW 1582.533008
KWD 0.35307
KYD 0.961002
KZT 602.587303
LAK 24878.037422
LBP 103318.650512
LKR 346.516968
LRD 230.624403
LSL 20.820036
LTL 3.402935
LVL 0.697116
LYD 6.285799
MAD 10.524981
MDL 19.827985
MGA 5153.114778
MKD 61.569812
MMK 2419.399045
MNT 4130.017729
MOP 9.323638
MRU 45.582541
MUR 52.575963
MVR 17.753793
MWK 1999.508594
MXN 22.112036
MYR 4.900869
MZN 73.712199
NAD 20.819584
NGN 1786.450441
NIO 42.43565
NOK 11.650198
NPR 159.722544
NZD 1.931967
OMR 0.442553
PAB 1.153097
PEN 4.140803
PGK 4.82106
PHP 65.888865
PKR 327.194771
PLN 4.268679
PYG 9203.563054
QAR 4.205642
RON 5.030175
RSD 117.330364
RUB 90.368278
RWF 1665.157067
SAR 4.324453
SBD 9.612065
SCR 16.365556
SDG 692.060432
SEK 11.146611
SGD 1.482192
SHP 0.905658
SLE 25.873303
SLL 24166.652664
SOS 658.998329
SRD 44.773754
STD 23853.731871
SVC 10.090099
SYP 14984.149536
SZL 20.816034
THB 37.818235
TJS 11.386983
TMT 4.033633
TND 3.413463
TOP 2.699196
TRY 45.723145
TTD 7.836737
TWD 34.101261
TZS 3046.88203
UAH 48.329881
UGX 4156.512386
USD 1.152467
UYU 47.148499
UZS 14481.753433
VES 118.193176
VND 30112.223648
VUV 138.369509
WST 3.170451
XAF 656.367977
XAG 0.032013
XAU 0.000342
XCD 3.114599
XDR 0.817475
XOF 656.35373
XPF 119.331742
YER 279.707783
ZAR 20.740485
ZMK 10373.586524
ZMW 26.666118
ZWL 371.093776
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Bitcoin hits record high amid optimism over US legislation
Bitcoin hits record high amid optimism over US legislation / Photo: Giuseppe CACACE - AFP/File

Bitcoin hits record high amid optimism over US legislation

Bitcoin hit a record high on Wednesday, driven by a wave of optimism over cryptocurrency legislation in the United States.

Text size:

The world's most popular cryptocurrency surged to an all-time peak of $109,499.76, surpassing its previous high set on January 20 when Donald Trump was sworn in as US president.

Bitcoin gained after US policymakers showed greater bipartisan support for a cryptocurrency bill on the regulation of so-called stablecoins, digital coins whose value is tied to the dollar, according to analysts.

This has sparked fresh hopes for regulatory clarity in the sector, including for Bitcoin which is not directly linked to the dollar.

The digital currency has also been buoyed by a more favourable macroeconomic environment, as investors' appetite for riskier assets has returned following an easing of tensions between the US and its key trading partners.

Trump vowed to support crypto currencies during his campaign for a second White House term.

But a wave of US tariffs unleashed on countries around the world dampened financial markets, causing a wave of uncertainty.

Bitcoin broke back through the symbolic $100,000 threshold on May 8 for the first time since February, as Britain and the United States unveiled a trade deal.

Cryptocurrencies have made headlines since their creation, gaining attention for their extreme volatility and the collapse of several industry giants, foremost among them the FTX exchange platform.

The digital currency is created -- or "mined" -- as a reward when powerful computers solve complex problems to validate transactions made on a meddle-proof register known as the blockchain.

W.Vogt--NZN