Bitcoin costs have been rising this 12 months, with the cryptocurrency hitting the $100,000 mark 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 picked Paul Atkins, a cryptocurrency advocate, to chair the Securities and Change Fee.
In response to Biden, the Securities and Change Fee has taken authorized motion in opposition to crypto exchanges similar to Coinbase, alleging that some crypto tokens bought via the platforms have been truly unregistered securities. The crypto business donated $245 million through the election cycle, CNBC studies.
Reuters reported that as a result 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 12 months.
