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Bitcoin prices It has been on the rise this year and the cryptocurrency reached the $100,000 price point for the first time on Wednesday.
The cryptocurrency’s price has jumped more than 5% in the past 24 hours.
The latest rally began with the election of Donald Trump as president, as he promised a more favorable regime for cryptocurrencies than current President Joe Biden. On Wednesday, Trump chose Paul Atkins, a cryptocurrency supporter, to head the Securities and Exchange Commission.
Under Biden, the Securities and Exchange Commission Legal action was taken against cryptocurrency exchanges such as Coinbase, claiming that some of the cryptocurrencies sold through the platforms were actually unregistered securities. The cryptocurrency industry donated $245 million during the election cycle, According to CNBC.
Reuters reported that because of Trump’s pro-crypto stance, small businesses… Convert some of their investments from cash to cryptocurrencies.
Bitcoin’s price has jumped about 50% since Election Day, and more than 100% for the year overall.
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