New Delhi. Bitcoin recently crossed the all-time high of $94,000. The increase follows reports that Donald Trump’s social media company, Trump Media & Technology Group, is in talks to buy crypto trading firm Bakkt. This news is potentially raising hopes of a crypto-friendly regime that could come under the Trump administration.
Bitcoin, the world’s largest and most famous cryptocurrency, has doubled its value in this year. The price of Bitcoin was around $92,104 on Wednesday Asian time, while it had reached $94,078 in the previous session. Another reason for this growth is the introduction of options trading for BlackRock’s Bitcoin ETF. This new option has given investors an opportunity to invest more in Bitcoin. Experts believe that Trump’s election promises and his positive attitude towards cryptocurrencies have increased enthusiasm in the market.
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Market at record level
The total value of the cryptocurrency market now exceeds $3 trillion, which is a new record. This growth has attracted many investors and analysts believe that if Bitcoin prices rise further, new investors will also join.
alert
However, experts have warned that Bitcoin prices may fluctuate. Therefore, investors have been advised to exercise caution. If the Trump administration adopts positive policies towards cryptocurrency in the coming times, this sector may develop even faster. Thus, this new record of Bitcoin not only reflects its popularity but also indicates the increasing interest towards digital assets in the times to come.
Tags: business news
FIRST PUBLISHED: November 20, 2024, 22:56 IST
