Bitcoin costs have been rising this yr, with the cryptocurrency hitting the $100,000 value level for the primary time on Wednesday.
The worth of the cryptocurrency jumped greater than 5% within the final 24 hours.
The newest rally started with the election of Donald Trump as president, promising a extra cryptocurrency-friendly regime than present President Joe Biden. On Wednesday, Trump chosen Paul Atkins, a proponent of cryptocurrencies, as chairman of the Securities and Change Fee (SEC).
In line with Biden, the SEC has taken authorized motion towards crypto exchanges similar to Coinbase, alleging that some crypto tokens offered by means of the platforms have been truly unregistered securities. The crypto trade donated $245 million in the course of the election cycle, CNBC experiences.
Reuters reported that because of Trump's pro-crypto stance, small companies are shifting a few of their investments from money to cryptocurrencies.
The worth of Bitcoin has jumped about 50% since Election Day and is up greater than 100% for the yr.
