The value of bitcoin has surpassed the $100,000 threshold for the first time, according to a report from the Kraken exchange platform. The price of the digital asset has risen further by more than 100% so far this year. Analysts point out that the pro-cryptocurrency policies, promised by Donald Trump, have strengthened investor confidence.
Bitcoin hit an all-time high of $103,619 at the start of trading on Thursday. This represents an advance of 6% compared to its previous valuation. Mike Novogratz, founder of the company Galaxy Digital, states that “we are witnessing a paradigm shift. [Esta unidad] and the entire cryptocurrency ecosystem are about to enter the realm of mainstream conventional finance. The momentum is fueled by institutional adoption, advances in tokenization and a clearer regulatory framework”.
Data provider CoinGecko indicates that the total virtual currency market has doubled this year. It is valued at 3.8 billion dollars. The appreciation is slightly higher than that of Apple (3.7 billion). The price of bitcoin has soared by more than 50% in the last four weeks, after Trump’s presidential victory.
The politician promised during his campaign that he would turn the United States into the “crypto capital of the planet.” He proposed the creation of a national bitcoin reserve. The US Government has in its possession about 210,000 bitcoins, equivalent to 14 billion dollars. Republican lawmakers are working on a bill that would allow the administration to increase the number to more than 1 million tokens. The concentration strategy would be favorable for the owners of the cryptocurrency. It would prevent federal authorities from reducing the value of the currency by massively selling its assets in the market.
The president-elect of the United States has nominated Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC). Experts predict that regulations around cryptocurrencies could be more lax. The official has served as co-chair of the Digital Chamber of Commerce Token Alliance and “recognizes that digital assets and other innovations are crucial to making the nation better than ever,” according to Trump.
The designation has generated excitement in the industry. Kristin Smith, CEO of the nonprofit Blockchain Association, said: “Atkins will offer a fresh perspective, anchored in a deep understanding of the digital goods ecosystem. We look forward to working with him to usher in a new wave of innovation. crypto United States”.
Bitcoin exchange-traded funds were approved earlier this year. The instrument has generated a massive influx of institutional capital around the asset. Since the elections, more than $4 billion has been invested through these vehicles. Geoff Kendrick, global head of analysis at the multinational bank Standard Chartered, estimates that large financial institutions have acquired about 3% of all the bitcoin supply that will exist on the market in 2024 alone. “Cryptocurrencies, as an asset class , they are becoming normal. If we go forward a few years, there will be a sales and operations desk on the trading floors. [dedicada] which will be placed alongside currencies, exchange rates and raw materials.
#Bitcoin #exceeds #catapulted #Trump
