On Wednesday, the price of one Bitcoin exceeded $60,000 for the first time since November 2021, pushing the world’s largest cryptocurrency to a current record of nearly $67,000.
The boom began in 2023 when Bitcoin fell below $20,000 and is a big turnaround from a year ago, when economists predicted a deepening recession.
Bitcoin rose more than 40% in February alone, marking its biggest monthly gain since late 2020, according to CoinDesk Indices. The price of Bitcoin has more than doubled in the past four months.
The surge comes after the Securities and Exchange Commission approved the first U.S. spot exchange-traded fund in January, opening the door to billions of dollars in investments from financial institutions such as BlackRock. It happened while the patient was being injected.
Bitcoin dominates just over half of the global cryptocurrency market, accounting for nearly $1.2 trillion of the more than $2.3 trillion in crypto assets in circulation worldwide, according to cryptocurrency data aggregator CoinGecko. is occupying.
Although the cryptocurrency industry continues to grow at a rapid pace, it remains to be seen whether Congress will pass comprehensive regulations for the exploding industry.
With the shutdown deadline looming and the 2024 election in full swing, crypto advocates including House Financial Services Committee Chairman Patrick McHenry (R.N.C.), who is retiring at the end of this year, There is no time left for legislation even for those who are concerned about it. , they promote actions they say will advance U.S. competitiveness and innovation in cryptocurrencies.
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