Bitcoin continues to march higher following the election of former President Donald Trump and his forthcoming crypto-friendly administration. It was only a year ago when Bitcoin was trading around $40,000. This week, Bitcoin topped $106,000, setting a new all-time high for the world’s most popular digital assets.
Beyond crypto-friendly policies, the fact that the US is finally entering the regulated digital asset sector bodes well for the crypto sector. Other jurisdictions will see this as a global seal of approval. You can anticipate legislation that enables digital asset innovation emerging out of the Republican-controlled Congress, with some members seeking a move to create a Bitcoin reserve. Crypto bulls are happy.
Petr Kozyakov, co-Founder and CEO at Mercuryo, a payments firm in the digital asset space, shared this statement with CI:
“Bitcoin has yet again breached a new all-time high of $106,000 as the King of Crypto continues its stratospheric rise. The prospect of a Santa rally may be having a self-fulfilling prophecy as institutional and retail traders alike pile into the biggest cryptocurrency. While institutional interest grabs the headlines, the retail market has more opportunities than ever before to press the ‘buy bitcoin’ button. Myriad platforms are now available that provide a seamless and secure interface on which to transact with cryptocurrency. As familiarity with Web3 architecture grows, so does the process of moving effortlessly between digital tokens and fiat currency. The advancement of Web3 technologies is quietly mirroring Bitcoin’s rise as the space continues to evolve at a breakneck pace.”