Bitcoin hits record US$112,000 amid Wall Street rally, crypto surge

Bitcoin surged past US$112,000 for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small.

The original cryptocurrency rose as much as 3.1 per cent to US$112,009, pushing its gain this year close to 20 per cent.

The move underscores the speculative momentum gripping markets even as US President Donald Trump unleashes a fresh barrage of tariff announcements.

“Voracious demand from equity market vehicles such as ETFs [exchange-traded funds] and digital-asset Treasuries has underpinned a continuous bid for bitcoin,” said Spencer Hallarn, global head of OTC trading at crypto investment firm GSR.

The rally is a boon for a new generation of Wall Street deal makers and…

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