Bitcoin has updated the record: the price has exceeded $111 thousand

On Thursday, bitcoin surpassed the $111,000 mark for the first time, updating the historical maximum. The rise in the value of cryptocurrencies is associated with the weakening of the US dollar and an increase in interest in digital assets from institutional investors.

The US Senate has approved the GENIUS Act bill aimed at regulating stablecoins, crypto assets pegged to traditional currencies. The document is undergoing further discussion, and its final adoption may take place as early as this week. This will help regulate the work of companies dealing with digital assets, providing them with legal clarity.

The weak results of the placement of US government bonds and concerns about the growth of the budget deficit led to a decline in the dollar to a two-week low against the yen. It also caused the American stock market to fall. In search of alternative assets, investors have turned their attention to cryptocurrencies and gold.

The bitcoin exchange rate is currently $110.54 thousand. Earlier, the cryptocurrency reached $111,878, setting a new record.