international-results

London Market Adopts Bitcoin As It Hits Record High Of $97K With Boost Over Trump's Policies | N18G

Bitcoin surged to a record high of $97,902 on November 21, 2024, driven by optimism surrounding a more crypto-friendly regulatory environment under President-elect Donald Trump. Investors speculated that Trump's promises of supporting digital assets would lead to less restrictive regulations, fueling a resurgence in the cryptocurrency market. This rally was also supported by news that Trump’s social media company, Truth Social, was in talks to acquire crypto trading firm Bakkt, which is backed by the NYSE's Intercontinental Exchange. As a result, Bitcoin’s value has more than doubled in 2024 and is approaching the $100,000 mark. The global cryptocurrency market surpassed a $3 trillion valuation, and some UK market vendors reported increased sales from Bitcoin payments. While Bitcoin’s volatility has limited its use as a mainstream payment method, its recent gains suggest it may be on the verge of broader adoption. Pro-crypto lawmakers in the U.S. Congress further support this trend.

first published: Nov 23, 2024 12:28 pm