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Bitcoin stabilizes near historic level, markets await Trump's moves
Arabic and international
Economy News - Follow-up
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Added 12/04/2024 - 8:49 AM
https://economy-news.net/content.php?id=50517
Arabic and international
Economy News - Follow-up
Cryptocurrency speculators kept Bitcoin close to the historic $100,000 level, anticipating further supportive moves for the sector from US President-elect Donald Trump.
The largest cryptocurrency was trading around $96,000 in early Asian trading on Wednesday, after gaining more than 40% since Trump won the election on Nov. 5. The Republican president plans to reverse the Joe Biden administration’s crackdown on crypto assets.
Crypto-friendly candidates are vying to head the Securities and Exchange Commission and the Commodity Futures Trading Commission, and Trump’s transition team has discussed whether to create the first White House position dedicated to cryptocurrency policy. On Wall Street, signs are growing that there is a greater willingness to engage with the controversial market.
The president-elect has promised to make the United States the global hub for cryptocurrencies, and has even backed the idea of creating a strategic reserve of Bitcoin, though there are doubts about whether this goal can be achieved.
80 views
Added 12/04/2024 - 8:49 AM
https://economy-news.net/content.php?id=50517
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