. The value of "Bitcoin" has reached a record level
The value of Bitcoin reached a new record on Sunday, surpassing the threshold of 125 thousand dollars.
The value of the cryptocurrency rose to 125,689 dollars, exceeding the previous record of 124,500 dollars achieved in August.
The value of Bitcoin improved amid investors' concerns about the government shutdown in the United States.
The rise in U.S. stocks also supported Bitcoin's ascent, as investors sought safe havens while American lawmakers negotiated federal government funding, according to Bloomberg.
The U.S. president and his family also promoted cryptocurrencies and entered into numerous related projects that contributed to increasing his wealth.
Trump's support for digital assets marked a departure from years of skepticism from the U.S. government regarding the cryptocurrency sector during his predecessor Joe Biden's administration; while the U.S. House of Representatives passed three historic bills related to cryptocurrencies in July.
Bloomberg News quoted Joshua Lim from the cryptocurrency brokerage firm Falcon X, stating, "With many assets, including stocks, gold, and even collectible assets like Pokémon cards, reaching unprecedented high levels, it is not surprising that Bitcoin benefits from the narrative of diminishing the value of the dollar."
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