Bitcoin Price Clears $111,000; Bitcoin ETFs Break Out

The price of bitcoin rallied to a record high on Wednesday near $112,000, clearing its prior peak set on Inauguration Day. Cryptocurrency prices and stocks also surged as key legislation advances. Spot bitcoin ETFs broke out above their respective buy points. Meanwhile, Strategy is raising more funds to buy more bitcoin.

Bitcoin rallied to $111,861 late Wednesday, surpassing its previous peak above $109,200 set on Jan. 20, according to CoinMarketCap data. The cryptocurrency is holding slightly above $111,000 early Thursday. The price of bitcoin has jumped about more than 8% over the past week and now boasts a year-to-date gain of 19%.