Cryptocurrencies continue to set records after Donald Trump's victory in the US presidential election. In general, since the beginning of the year, bitcoin has grown by 138%, and the market capitalization of global digital assets has surpassed the UK stock market in value, UNN writes with reference to The Economist.
Details
Following Donald Trump's victory in the November 5 election, the world's most famous cryptocurrency reached new record highs, exceeding $100,000 per unit. Overall, its value has increased by 138% since the beginning of the year.
Bitcoin set a new record after Trump's victory in the US elections05.12.24, 08:35
The total market capitalization of the world's cryptocurrencies now reaches almost $4 trillion, exceeding the value of the entire UK stock market.
Digital asset owners have reason to be optimistic: Donald Trump has appointed Paul Atkins, a lawyer and leader of a crypto advocacy group, as chairman of the Securities and Exchange Commission, the key US financial regulator. The new administration, which is closely tied to Silicon Valley tycoons, is in favor of reducing regulations that they believe are limiting the development of the crypto industry, the publication writes.
The idea of Republican Senator Cynthia Lummis to create a government reserve of 1 million bitcoins, which previously seemed fantastic, now looks quite possible.
Recall
On Friday, bitcoin fell slightly as the recent rally after reaching key levels began to lose momentum and traders remained cautious ahead of the Federal Reserve's decision expected next week.