The most prominent virtual currency is just around the corner Bitcoin (Bitcoin) passed the $100,000 barrier today, Thursday, amid expectations that the new American administration, led by the president-elect, will add Donald Trump In adopting a more receptive organizational approach For cryptocurrencies.
In the latest transactions, Bitcoin recorded $98,367.
Cryptocurrencies have gained a prominent place in politics, at a time when Bitcoin is seen as a trade among the “trades” of Trump, who embraced digital assets during his election campaign.
“Trump trades” means a demand for assets that are likely to be supported by his policies after he returns to the presidency.
Bloomberg News reported yesterday, Wednesday, that Trump’s team is in talks with the digital asset department about creating a new position in the White House dedicated to cryptocurrency policies.
The price of Bitcoin has more than doubled this year and is up about 40% in the past two weeks since Trump was elected and a group of pro-cryptocurrency lawmakers were elected to Congress.
More than $4 billion has flowed into Bitcoin trading funds in the United States since the election.
Stocks related to cryptocurrencies rose in tandem with the price of Bitcoin, and the shares of the Bitcoin mining company “Mara Holding” jumped by about 14% last night, and the shares of MicroStrategy – a loss-making software company that ‘ buy Bitcoin – a 10% increase, bringing its market value to over $100 billion.
The market value of each Bitcoin unit traded in the markets exceeded $1.92 trillion, out of the total market value of cryptocurrencies, which was estimated at more than $3.18 trillion.
Trump appeared as a supporter of crypto funds in the United States (Reuters)
transformation
Trump described digital currencies in his first term as a scam, but his position completely changed in this regard, and he even launched his own digital currency, promising that the United States would “prime- the global city of Bitcoin and digital currencies. “
During his election campaign, Trump touched on the idea of establishing a strategic national reserve of Bitcoin, and during his campaign he received the support of organizations active in the field of digital currency.
Bitcoin, whose original goal was to control traditional financial institutions, is based on block chain technology (Blockchain), which works as a virtual, blockchain-proof ledger that keeps track of all transactions. to decide.
Regulatory bodies try to close the legal loopholes around these digital assets, which have often been a controversial topic and are still considered a way to launder money or to extort people. individual to deceive.
According to the results, Trump won the presidential race in the elections held on November 5, defeating his Democratic rival. Kamala HarrisHe will be sworn in on January 20, 2025, to officially begin his presidential duties.
2024-11-21 16:24:00
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**How effectively does Dr. Lee address the concerns of those who see cryptocurrency as primarily a tool for illicit activities?** This question prompts an analysis of Dr. Lee’s argumentative strategy, evaluating how she balances acknowledging the risks while emphasizing the potential benefits and advocating for regulation.
## World Today News: Bitcoin Fever
**Host:** Welcome back to World Today News, where we touch on the issues shaping our world. Today’s topic is one ripping through financial headlines: Bitcoin’s surging value. Joining us are two experts: Dr. Emily Lee, economist and cryptocurrency specialist, and Michael Evans, a financial strategist with a strong understanding of political impact on markets. Welcome both.
**Dr. Lee & Mr. Evans:** Thank you for having us.
**Host:** Let’s dive right in. Bitcoin recently breached $100,000, a truly astonishing milestone. Dr. Lee, what’s driving this surge?
**Dr. Lee:** Several factors are at play. We’re seeing a confluence of institutional adoption, growing mainstream awareness and acceptance, and a general distrust of traditional financial systems, especially in times of economic uncertainty.
**Host:** Interesting. Michael, the article mentions “Trump trades” fueling this rise. Can you elaborate on the connection between Bitcoin’s surge and Donald Trump’s victory?
**Mr. Evans:** Absolutely. Throughout his campaign, Trump expressed increased support for digital assets.
This, coupled with the election of a pro-cryptocurrency Congress, have bolstered investor confidence.
The market perceives the new administration as likely to implement crypto-friendly policies. Imagine when Trump floated the idea of a national Bitcoin reserve – that sent tremors through the market.
**Host:** That’s a fascinating perspective. Dr. Lee, some argue that cryptocurrency is detrimental, a tool for illicit activities like money laundering. How do you respond to those concerns?
***Thematic Section: Regulation and Future**)
**Dr. Lee:** Those concerns are valid. The unregulated nature of cryptocurrency does present risks. However, dismissing it entirely would be short-sighted. Blockchain technology
underlying Bitcoin offers incredible potential for transparency and security. The focus should be on responsible regulation
, not outright prohibition.
**Host:** Michael, what does the future hold for Bitcoin and other cryptocurrencies given this increase in political and institutional involvement?
**Mr. Evans:** I believe we’re witnessing the dawn of a new era. Governments are starting to understand the potential benefits of cryptocurrency, not
just for financial transactions, but also for innovation and economic growth.
**Host:** So, is Bitcoin the future of finance?
***Thematic section: Decentralization vs. Traditional Finance)
**Dr. Lee:** It’s too early to declare Bitcoin the sole future of finance. However, the decentralized nature of cryptocurrency challenges the traditional
financial order, and that’s a monumental shift. The coming years will see a complex interplay between traditional finance and cryptocurrencies.
**Host:** A fascinating discussion, both of you. Thank you for sharing your insights. This is certainly a topic to continue monitoring.
**[End Interview]**
