Published on May 19th, 2017 | by bitcoin0
Increased political risk pushes Bitcoin price to fresh record high above $1,900.
The digital currency bitcoin jumped to a fresh all-time high Thursday as global investors looked for safe haven trades.
Bitcoin rose more than 3.5 percent to hit a record of $1,875.08, according to CoinDesk.
One of the reasons for the move was “buying as a hedge against political chaos,” said Brian Kelly, CEO of BKCM, which runs a digital assets strategy.
Bitcoin three-month performance
Major stock markets dropped in the last two days as separate reports of potential scandals in the U.S. and Brazilian presidencies rattled investors.
Brazil has a “decent bitcoin community there already,” said Chris Burniske, blockchain products lead at ARK Investment Management.