Bitcoin surpasses US$120,000 mark for first time

NEW YORK - Bitcoin surpassed the US$120,000 mark early on Monday for the first time since it came onto the market some 15 years ago, reported German Press Agency (dpa).

On the Bitstamp trading platform, the price rose at the start of the week to US$121,488, after nearly hitting the US$120,000 mark over the weekend.

Analysts attribute the oldest and best-known cryptocurrency's steady increase in value to the new political landscape in the United States (US) following Donald Trump's return to the White House in January.

Trump had been very negative about Bitcoin during his first term in office, from 2017 to 2021, but actively courted the crypto community in this year's re-election campaign.

Since the US election in November, the value of Bitcoin has risen by around 75 per cent. - BERNAMA-dpa