Meanwhile, Ukrainian President Volodymyr Zelenskyy signed into law a bill that legalizes crypto in the country
Bitcoin was trading around $40,000 Thursday morning following the Federal Reserve’s interest rate hike.
The cryptocurrency has traded higher in four of the past five days heading into Thursday and is on a three-day winning streak.
Over those three days, bitcoin is up more than 6%.
Bitcoin still trades down 0.9% month-to-date and off more than 10% year-to-date.
Some reports say the bitcoin move was chalked up to the news that China was pledging to support its real estate and tech industries, which also powered Asian stocks, according to CoinDesk.
Meanwhile, Ukrainian President Volodymyr Zelenskyy signed into law a bill that legalizes crypto in the country.
Ukraine has been using a flood of digital asset donations to support the country’s defence against the Russian invasion.
Zelenskyy asked the U.S. Congress in a major speech to provide more support and to strengthen sanctions against Russia.