Bitcoin surged past US$112,000 for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small.
The original cryptocurrency rose as much as 3.1 per cent to US$112,009, pushing its gain this year close to 20 per cent.
The move underscores the speculative momentum gripping markets even as US President Donald Trump unleashes a fresh barrage of tariff announcements.
“Voracious demand from equity market vehicles such as ETFs [exchange-traded funds] and digital-asset Treasuries has underpinned a continuous bid for bitcoin,” said Spencer Hallarn, global head of OTC trading at crypto investment firm GSR.
The rally is a boon for a new generation of Wall Street deal makers and corporate executives – led by crypto treasury companies – that are banking on the token’s advance to unlock new rounds of financing.
