Bitcoin breaks $90,000 mark for the first time, up nearly 30% since the US election

Odaily Odaily News Bitcoin climbed above $90,000, setting a new record high. Since the US election day, Bitcoin has risen nearly 30%. After Trump took back the White House last week, investors bet on a wave of deregulation and cryptocurrency-friendly policies. Dozens of congressional candidates supported by cryptocurrency super PACs won their races, further boosting Bitcoin's momentum. Crypto-related stocks and other tokens have also caught up with the rally. Coinbase (COIN.O), which is in a legal dispute with the U.S. Securities and Exchange Commission (SEC), has seen its share price soar this week. In early trading on Wednesday, the stock rose nearly 3%. MicroStrategy (MSTR.O), a software intelligence company that has transformed into a Bitcoin purchasing entity, has also soared, currently up nearly 5%. The company, led by Bitcoin advocate Michael Saylor, currently holds about 279,420 bitcoins, worth about $25 billion. (Jinshi)