This year, the price of bitcoin has been rising, and on Wednesday, it crossed the $100,000 mark for the first time.
almost the past day, the price of the cryptocurrency has increased by almost 5%.
The election of Donald Trump as president, who had pledged a more crypto-friendly administration than incumbent Joe Biden, kicked off the most recent rally. Trump appointed cryptocurrency advocate Paul Atkins to lead the Securities and Exchange Commission on Wednesday.
ICYMT: Stella Damasus honors late husband 20 years after his passing
The Securities and Exchange Commission has filed lawsuits against cryptocurrency exchanges such as Coinbase under Biden, alleging that certain tokens issued on these platforms were in fact unregistered securities. According to CNBC, the cryptocurrency business contributed $245 million throughout the election campaign.
Trump’s pro-crypto position has caused small firms to switch some of their cash assets to cryptocurrency, according to Reuters.
Since election day, the price of bitcoin has increased by almost 50%, and it has increased by more than 100% this year.
SOURCE: TECH CRUNCH
