Bitcoin Surges Above $94,000 Amid Trump Media's Reported Talks to Acquire Bakkt

MT Newswires Live

2024/11/20

Bitcoin (BTC) surged to a record high above $94,000 late Tuesday, driven by reports that Donald Trump's media company, Trump Media and Technology Group (DJT), is in talks to acquire crypto trading firm Bakkt (BKKT).

The news stoked hopes for a cryptocurrency-friendly regulatory environment under the incoming Trump administration.

The rise in Bitcoin's value was also supported by the launch of options trading for BlackRock's iShares Bitcoin Trust ETF (IBIT) on the Nasdaq and saw $1.9 billion in total exposure traded on the first day.

The global crypto market value grew record high above $3 trillion, according to CoinMarketCap.

BTC was trading at $93,113 at the time of writing on Wednesday.

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