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Bitcoin hit a record high on Wednesday as growing industry optimism that the US will shortly agree its first regulations for digital assets spurred fresh enthusiasm for cryptocurrencies.
The price of the token rose to as much as $109,481, surpassing the previous high of $109,000 set in January and extending its rally of the past month.
Lawmakers in Washington are closing in on agreeing rules that will provide a regulatory framework for stablecoins, a form of digital dollar widely used for payments and trading in crypto markets. The tokens aim to maintain a steady value against the dollar but sit outside the regulated banking system.
The price of bitcoin has climbed by more than one-third in the past month as fears over the impact of US President Donald Trump’s aggressive tariff policy have eased.
