Bitcoin reaches new high of over $90,000 following Trump's deregulation promise

Bitcoin reached a new high of over $90,000 on Wednesday, driven by positive market reactions to president-elect Donald Trump's promise to ease regulations on digital assets. It briefly hit $91,000 before settling at $90,670. Following Trump's election, Bitcoin became the eighth largest asset globally, surpassing silver with a market cap of $1.752 trillion. This surge reflects investor optimism about potential deregulation and tax cuts under Trump's administration. Trump's evolving stance on cryptocurrency includes plans for a presidential advisory council and a new crypto venture. His previous criticisms of Bitcoin have shifted towards a more supportive approach, indicating possible favorable policies for the crypto industry.