Bitcoin tops US$110,000 for first time as US optimism lifts crypto
[KUALA LUMPUR] Bitcoin surpassed US$110,000 for the first time to head towards another record high, with traders increasingly bullish on the prospects of the original cryptocurrency.
Bitcoin climbed as much as 2.2 per cent in early Asian trading on Thursday (May 22) to hit US$110,707, before paring gains, according to data compiled by Bloomberg.
A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US Senate fuelled hopes of greater regulatory clarity for crypto operators. Surging demand from Michael Saylor’s Strategy – which has stockpiled over US$50 billion worth of Bitcoin – and a growing list of digital-asset hoarders is another driving force behind the rally.
“It has been a slow motion…
