Bitcoin Surges to Record High Above US$125,000 Amid US Political Uncertainty and Trump’s Crypto Push
TOKYO, Oct 5 — Bitcoin soared to a new all-time high of US$125,689 today, surpassing its previous August record of around US$124,500. The cryptocurrency’s rally comes as investors turn to alternative assets amid concerns over a potential US government shutdown.
Analysts said gains in US equities and fears of dollar weakness have further boosted bitcoin’s appeal as a hedge. Bloomberg reported that investor sentiment has also been buoyed by US President Donald Trump’s pro-crypto stance, with his administration passing three landmark cryptocurrency bills in July.
Joshua Lim of FalconX said the surge reflects “a dollar debasement narrative,” as a range of assets — from gold to collectibles — hit record highs.
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