Bitcoin rises as investors seek a global safe haven amid shutdown
Bitcoin ticked higher on Wednesday while most other risk assets fell after U.S. lawmakers failed to reach a government funding agreement, leading to a shutdown.
The move showed the evolving view of the cryptocurrency to a store of value during dysfunctional geopolitical times, not unlike gold, which rose to a record on Wednesday.
The flagship cryptocurrency traded 1.8% higher on the day at $116,283 as of 6:53 a.m. ET. Over the past 24 hours, it's up around 3%.
The U.S. government shut down at midnight after a Senate bill to keep the government funded did not garner enough votes to pass. This comes as Democrats led by Sen. Chuck Schumer and Rep. Hakeem Jeffries push for such a measure also extend enhanced Obamacare tax credits.
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