The cryptocurrency had risen on Friday for an eighth straight session. PHOTO: PIXABAY
Bitcoin, the world’s largest cryptocurrency by market value, hit a record high on Sunday and was up nearly 2.7% at $125,245.57 at 0512 GMT.
Bitcoin’s previous record was $124,480 in mid-August, buoyed by friendlier regulations from US President Donald Trump’s administration and strong demand from institutional investors.
Read More: Surveillance states, autonomous cars, and doomposting about AI as usual[1]
The cryptocurrency had risen on Friday for an eighth straight session, bolstered by recent gains in US equities and inflows into bitcoin exchange-traded funds.
In contrast, the US dollar retreated on Friday, posting multi-week losses against major currencies, as uncertainty surrounding a US government shutdown clouded the outlook and delayed key data releases, such as payrolls, critical for gauging the economy’s direction.
References
- ^ Surveillance states, autonomous cars, and doomposting about AI as usual (tribune.com.pk)