Bitcoin hits all-time high above $125,000
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
A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken on 18 October 2021. REUTERS/Edgar Su/File Photo
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.
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.
Keep updated, follow The Business Standard's Google news channel
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.
