The world's largest cryptocurrency surged 6% to an all-time high of $103,800, following Trump's nomination of pro-crypto advocate Paul Atkins to head the Securities and Exchange Commission. It was last trading at around $102,850.
Trump's election victory has perked up investor interest in the crypto market, with Bitcoin's price soaring 50% since his win, exactly a month ago. So far this year, Bitcoin has gained almost 150% buoyed by institutional confidence, the launch of Bitcoin ETFs and increasing acceptance of digital assets, experts said.
Analysts predict the rally could push Bitcoin to $120,000 by end of the year and potentially surpass $150,000 in 2025. Global investment firm Bernstein has projected Bitcoin at $200,000 by 2025 and $1 million by 2033.
This story is from the December 06, 2024 edition of Financial Express Delhi.
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This story is from the December 06, 2024 edition of Financial Express Delhi.
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