US President Donald Trump has recently signed an executive order to establish a strategic bitcoin reserve, using cryptocurrencies already owned by the US government.
Regulators have long warned that cryptocurrencies like bitcoin are high-risk assets, with limited uses in the real world. High volatility has been another barrier to wide adoption as a means of payment.
Bitcoin , the world's biggest and best known cryptocurrency, hit a high of $106,533 and last traded up 3.2 percent to $104,462
Donald Trump won the US election promising to make the country the "bitcoin and cryptocurrency capital of the world":
The digital unit has advanced more than 50 percent since the tycoon's poll win -- and around 134 percent since the turn of the year
Trump’s team has met with industry executives to discuss creating a White House job focused on cryptocurrency policy.
Bitcoin's value has soared to a record high of above $95,040, as excitement builds around a potentially supportive approach to cryptocurrencies under President-elect Donald Trump.
It was last at $92,104 in Asian hours on Wednesday, having touched a record high $94,078 just toward the end of the previous session.
Trump's impending presidency has spurred an enthusiastic market response, with bitcoin surging more than 25 percent in a week and breaking through the $90,000 mark for the first time
Bitcoin’s popularity in Asia has had a positive influence on other alternative cryptocurrencies such as ethereum and litecoin. Clearly there is a great demand for such digital money, even though its volatility hurts.
Australian entrepreneur Craig Wright publicly identifies himself as Bitcoin creator Satoshi Nakamoto. His admission follows years of speculation about who came up with the original ideas underlying the digital cash system.
Japanese police arrest CEO of the failed company MtGox, which was once the world's biggest exchange of the virtual currency, bitcoin.
