Bitcoin hovers near $111,000 as crypto momentum grows
Bitcoin (BTC-USD) hovered near a fresh record past $111,000 per token on Thursday, driven by institutional buying, a crypto-friendly environment, and an increasing appetite for an alternative store of wealth amid US debt fears.
The digital currency passed an all-time intraday high past $111,700 as a massive tax-cut bill made its way through Congress.
“The market today is reacting to the fact that the government has sort of said it’s on board to grow deficits, to print more money, to expand the fiscal debt — and that’s forcing people to look outside of fiat currencies to an alternative,” Matt Hougan, CIO of digital asset management firm Bitwise, told Yahoo Finance on Thursday morning.
The new record comes amid concerns of…
