{"id":188810,"date":"2024-12-05T08:33:12","date_gmt":"2024-12-05T08:33:12","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/05\/bitcoin-hits-100000-as-trump-picks-cryptocurrency-fan-to-head-financial-watchdog\/"},"modified":"2024-12-05T08:33:12","modified_gmt":"2024-12-05T08:33:12","slug":"bitcoin-hits-100000-as-trump-picks-cryptocurrency-fan-to-head-financial-watchdog","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/05\/bitcoin-hits-100000-as-trump-picks-cryptocurrency-fan-to-head-financial-watchdog\/","title":{"rendered":"Bitcoin hits $100,000 as Trump picks cryptocurrency fan to head financial watchdog"},"content":{"rendered":"
\"Bitcoin<\/div>


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The world’s biggest cryptocurrency, Bitcoin, has been valued at more than $100,000 for the first time, spurred on by Donald Trump’s latest nomination for his presidential team.<\/p>\n

The cryptocurrency<\/strong><\/a> was valued at $103,280 (\u00a381,160) as of 4.10am UK time, leaping in value by 7.9% in the previous 24 hours, according to currency converter XE.com.<\/p>\n

It’s the high water mark of a surge in buying that started on 5 November, the day of the US election.<\/p>\n

Since then, the price has risen by around 45% from $69,374 (\u00a354,608).<\/p>\n

The rally has also been stoked by a series of the president-elect’s appointments, with Paul Atkins being picked to chair the Securities and Exchange Commission (SEC) on the same day that the cryptocurrency reached its benchmark number.<\/p>\n

A former SEC commissioner under George W. Bush, Mr Atkins has frequently made the case against too much market regulation and has been a vocal cryptocurrency advocate.<\/p>\n

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\n Paul Atkins visiting Trump Tower in 2016 Pic: AP
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Posting on Truth Social, Mr Trump said of his new appointment: “He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World.<\/p>\n

“He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”<\/p>\n

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What is cryptocurrency?<\/h4>\n<\/p>\n

In simple terms, cryptocurrency is digital money.<\/p>\n

It’s designed to work through an online network without a central authority – meaning it is not recorded by any government or bank.<\/p>\n

Transactions using crypto such as Bitcoin or Ethereum are instead tracked by technology called the blockchain, an unchangeable shared digital ledger.<\/p>\n

Digital coins can be very volatile – meaning their price can fluctuate rapidly – and are mostly unregulated. <\/p>\n

The UK’s Financial Conduct Authority considers crypto high-risk and has called for regulation.<\/p>\n<\/p><\/div>\n<\/div>\n

Previously a sceptic of digital currency, Mr Trump<\/strong><\/a> pledged to make the US “the crypto capital of the planet” and create a “strategic reserve” of Bitcoin during this election campaign.<\/p>\n

Read more from Sky News:<\/strong>
‘World’s largest pay award’ for Musk prevented again<\/a><\/strong>
Should UK fear Trumponomics?<\/a>
Why Guinness is limiting supplies for pubs<\/a><\/strong><\/p>\n

He was the first presidential candidate to accept donations in crypto-assets, while vice president-elect JD Vance has been strongly supportive of digital currency.<\/p>\n

In September, Mr Trump launched World Liberty Financial, a new venture to trade cryptocurrencies.<\/p>\n

Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington, said at the time that Mr Trump’s pro-crypto stance was “troubling… while starting a way to personally benefit from it”.<\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The world’s biggest cryptocurrency, Bitcoin, has been valued at more than $100,000 for the first time, spurred on by Donald Trump’s latest nomination for his presidential team. The cryptocurrency was valued at $103,280 (\u00a381,160) as of 4.10am UK time, leaping in value by 7.9% in the previous 24 hours, according to currency converter XE.com. It’s […]<\/p>\n","protected":false},"author":2,"featured_media":188811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/public.flourish.studio\/visualisation\/20633929\/thumbnail","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[1159,8353,1706,4073,367,1094,52,7240],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/188810"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=188810"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/188810\/revisions"}],"predecessor-version":[{"id":188812,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/188810\/revisions\/188812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/188811"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=188810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=188810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=188810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}