- Bitcoin hit a record high Wednesday morning, hitting $109,422.
- Pro-crypto policies and tariff chaos have boosted bitcoin’s appeal in recent months.
- Companies like GameStop and Tesla invest in bitcoin to hedge against inflation.
Bitcoin hit a record high on Wednesday, jumping as much as 2.4% to $109,499.76.
It’s the first record for the world’s largest cryptocurrency since January, when the token climbed above $109,200.
The latest surge is being driven by a burst of enthusiasm on recent regulatory developments. On Monday, a landmark crypto bill moved ahead in Congress, with proposed legislation aiming to regulate the stablecoin market moving forward in a bipartisan vote.
The coin has also benefited from a broader rally in risk assets since tariff chaos has subsided in recent weeks. The token is up almost 17% year-to-date.
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