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Bitcoin (BTC-USD) touched new milestone on Wednesday — topping a record $93,000 before paring gains.
Cryptocurrency has been at the center of the "Trump trade" following Donald Trump’s White House win last week. Bitcoin has surged more than 30% since the election, frequently touching new daily records.
Other cryptocurrencies also rose, including ethereum (ETH-USD), Solana (SOL-USD), and even meme coin doge (DOGE-US).
Investors have flocked to bitcoin and other coins, assuming that Trump will follow through on his pro-crypto campaign promises.
As Yahoo Finance’s Josh Schafer points out, the president-elect has suggested appointing a crypto Presidential Advisory Council, firing SEC Chair Gary Gensler, and creating a "strategic national bitcoin stockpile."
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