From Investing.com

November 21, 2024 6:01:00 PM:

Bitcoin nearly reached $100,000 for the first time as Trump’s election boosted expectations of crypto-friendly regulations. Trading between $98,000 and $99,000, it has doubled in value this year. Trump aims to make the U.S. a “crypto capital” and has replaced SEC Chair Gensler. Billionaire Elon Musk is also a crypto advocate.

After its creation 16 years ago, bitcoin is gaining mainstream acceptance. The rebound from a low of $16,000 in 2022 was accelerated by the approval of U.S.-listed bitcoin ETFs. Over $4 billion has flowed into these ETFs since the election, with strong interest in options on BlackRock’s ETF.

Despite the rise in bitcoin and crypto-related stocks, critics have raised concerns. The industry faced scandal in the past, and energy usage and environmental impact are under scrutiny. Crypto crime remains a worry, with $24.2 billion worth of crypto sent to illicit addresses last year.

Read more at Investing.com: Bitcoin approaches $100,000 on optimism over Trump crypto plans By Reuters