Bitcoin has surged past $125,000 mark for the first time, renewing investors’ appetite and enhancing cryptocurrency adoption.
The world’s most reputable digital asset climbed more than eight per cent in 24 hours above $125,600, beating the previous record of $124,500.
The surge in the price of Bitcoin and across other cryptocurrencies is due to President Donald Trump embracing the digital currency, and investors across the world.
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Trump’s recent embrace of digital assets marks a reversal of the US government’s years-long scepticism toward the crypto industry, a stance largely held by his Democratic predecessor, Joe Biden.
This policy shift was evidenced in July, when the US House of Representatives passed three landmark cryptocurrency bills.
It isreported that a state in the United States of America has announced plans to accept cryptocurrency for state services. This has immediately fuelled strong speculation about the future of digital finance.
The move by Ohio State signals a crucial shift, as government agencies appear to be transitioning toward accepting and regulating digital currencies rather than viewing them purely as a threat.
Already, the publicly listed technology firm ALT5 Sigma plans to sell $1.5 billion of its shares to finance the acquisition of a cryptocurrency, a new digital currency created by World Liberty Financial, a company under the control of the Trump family.
World Liberty Financial, a cryptocurrency firm established by the Trump family last year, announced on Monday that a publicly listed technology company would begin purchasing a large volume of its unique digital coin.
The firm announced that a little-known tech company called ALT5 Sigma is gearing up to sell $1.5 billion worth of shares, using the proceeds to buy $WLFI, a cryptocurrency created by World Liberty.
