Bitcoin Hits $100,000 Amid Trump's Celebration
Bitcoin has hit a new milestone, crossing $100,000 for the first time after a surge linked to Donald Trump's election victory. The jump began after Trump announced plans to nominate a crypto-friendly SEC chair and pushed for policies to promote cryptocurrency in the U.S. Bitcoin’s value climbed rapidly from $69,000 on Election Day to over $103,000, thanks in part to the approval of spot Bitcoin ETFs earlier this year. However, experts warn that Bitcoin’s value can be unpredictable, and investing carries risks.
Cryptocurrency like Bitcoin is a form of digital money that operates without central control, using blockchain technology to record transactions. While some see Bitcoin as an alternative to traditional currency, it is still far less common in daily use. The recent rally comes as Trump promises to boost the crypto market, but lighter regulations could also mean fewer protections for investors, which is something to consider before jumping in.
Bitcoin's rise also raises environmental concerns. Mining Bitcoin requires a lot of energy, often from fossil fuels. While the industry has started to use more renewable energy, its carbon footprint remains significant. Experts recommend being cautious with crypto investments, considering both the financial risks and the environmental impact.
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