At 17:24 UTC on Saturday (March 6), U.S. Senate Majority Leader Chuck Schumer announced that Senate Democrats had just managed to get passed a $1.9 trillion COVID-19 relief bill (“American Rescue Plan”).
Moments later, Bitcoin started the rally, and by 14:05 UTC on Sunday (March 7), on crypto exchange Bitstamp, the BTC price had reached $51,306, which is so far today’s intraday high. This means that the Bitcoin price is up 8.02% in the past 24-hour period and up 76.92% in the year-to-date period.
According to data by CryptoCompare, currently (i.e. as of 13:40 UTC on March 7), Bitcoin is trading around $50,679, up 6.90% in the past 24-hour period and up 74.92% in the year-to-date period.
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