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Bitcoin approaches $100,000 on optimism over Trump crypto plans

Economic TimesEconomic Times · 1m
Bitcoin approaches $100,000 on optimism over Trump crypto plans

Bitcoin came close to reaching $100,000 for the first time, driven by expectations that Donald Trump's presidency will lead to a favorable regulatory environment for cryptocurrencies. Bitcoin has doubled in value this year and increased by 40% since Trump's election and the election of pro-crypto lawmakers. Trump's interest in digital assets, his promise to make the US the "crypto capital of the planet," and the appointment of a new SEC Chair have contributed to investor optimism. Bitcoin's rebound has been supported by the approval of bitcoin exchange-traded funds, which have attracted over $4 billion in investment since the election. However, the industry continues to face criticism due to concerns about energy usage, potential crime, and scams.

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