Bitcoin is now the 13th-largest asset by market cap according to AssetDash and has a market cap of around $403 billion thanks to the latest price surge, making it nearly as valuable as US retail giant Walmart.

Microsoft’s earnings report led headlines on Tuesday, as an expectation beating calendar Q3 (the firm’s fiscal Q1) played off against weaker than anticipated guidance for the current quarter (its fiscal Q2).

President Trump threw another U-turn at investors this week, after tweeting that he supports legislation to authorise sending a second batch of $1,200 stimulus checks to Americans.

Asian markets climbed overnight to start the week on the front foot after reports that President Trump could leave hospital as early as today. European markets have also opened positively with the FTSE and Dax up 0.5% a piece.

With the prospects of a smooth recovery in the US economy continuing to diminish as coronavirus cases soar, the US currency — the most important currency globally and one which acts as the benchmark for most financial assets — continues to weaken.