New all-time high: Bitcoin passes the 110,000 US dollar mark for the first time
The rise in the price of Bitcoin has ensured that the cryptocurrency is worth more in US dollars than ever before. The euro record has not yet been broken.
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The price of one Bitcoin in US dollars has reached a record high, currently trading for more than 110,000 US dollars. However, the 100,000 euro mark has not yet been surpassed again: In December and January, the cryptocurrency was already worth more than 100,000 euros. The latest price surge has been triggered by various positive developments, according to an expert quoted by the US financial magazine CNBC. These include the easing of the trade conflict between the US and China, a fall in inflation in the US and concerns about its creditworthiness, which are bringing alternative financial investments into focus. Hopes of less US regulation of cryptocurrencies have also helped the price.
Sharp ups and downs thanks to Donald Trump
In US dollars, the oldest and best-known cryptocurrency reached its highest level to date in January, at the inauguration of US President Donald Trump. The price then fell by more than 25% within a few weeks, especially after the announcement of high US tariffs on goods from almost every country in the world. Since most of these were temporarily suspended, not only has the temporarily chaotic situation on the stock markets calmed down. Cryptocurrencies have also benefited noticeably from this development. Added to this is the weakening US dollar, which has also helped with the recent record chase.
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In his first term as US president, Donald Trump was still a fierce critic of cryptocurrencies, but changed his mind during the election campaign last year. In return, his election campaign received millions in donations from the industry. In addition, Trump's companies are now earning money on the crypto markets and the president himself is promoting his own memecoins. He has even sent their price soaring by inviting the people with the largest holdings of coins to an exclusive dinner.
(mho)
