Bitcoin Makes New High, Price Reaches More than USD 93,000

The price of the most popular cryptocurrency Bitcoin has been increasing since Trump’s victory in America. Bitcoin made a new high of more than $93,000 on Wednesday. Investors hope that the new government in America will make a policy in favor of crypto. Along with this, there is a possibility that there will be no strict restrictions on this segment.

a media Report According to, the new high level of Bitcoin is $ 93,469. The crypto market has not been affected much even though October’s inflation data in the US was as per estimates. Many investors are also seeing Bitcoin as a hedge against the possibility of inflation increasing due to fiscal policy in America.

The interest of institutional investors in this segment is also increasing. In this series, MicroStrategy, one of the big software companies, has spent more than two billion dollars in buying about 27,200 bitcoins. This company already has a larger reserve of Bitcoin. However, this is its biggest purchase of Bitcoin in terms of amount since December 2020. Michael Saylor, chairman of MicroStrategy, decided to invest in Bitcoin as a hedge against inflation. Initially this company used to buy bitcoins in exchange for cash. Since then, MicroStrategy has been using the proceeds from the sale of shares and convertible debt to buy Bitcoin.

The shares of this American company have increased by more than 2,000 percent in the last four years. However, the price of Bitcoin has increased by approximately 630 percent during this period. MicroStrategy’s total holdings of Bitcoin are approximately $23 billion. The price of Bitcoin is rising due to Trump’s victory in America and the arrival of crypto supporting candidates in Congress. This political change has increased the possibility of better regulatory conditions and fewer restrictions for the crypto market. Investors expect long-term growth and stability in this segment. There are a large number of people investing in the crypto market in America. These investors may also support Trump’s victory.