Bitcoin Stays Higher After Hitting Record High Earlier — Market Talk

Bitcoin stays higher after hitting a record high earlier on hopes that the U.S. will soon pass new digital asset regulations. U.S. lawmakers are moving closer towards agreeing a new legislation for stablecoins, or digital assets that are pegged to another asset like the dollar. U.S. debt instability has probably helped bitcoin too, Deutsche Bank analysts say in a note. Worries about high levels of U.S. government debt are building as President Trump attempts to push through his tax-cutting plans through Congress in the wake of Moody's downgrading its U.S. credit rating. This is prompting investors to seek alternatives to the dollar. Bitcoin rises 2.5% to $110,960 after hitting a high of $111,862 earlier, according to LSEG. ([email protected])