The price of 1 Bitcoin is now Rs 85 lakh! Trump’s election victory increased the pace
NEW YORK New York: Bitcoin has surpassed the USD 100,000 (Rs 84.7 lakh as per December 5 exchange rates) mark, following a massive surge in the world’s most popular cryptocurrency prompted by the election of Donald Trump. The feat comes just hours after the president-elect signalled a lighter regulatory approach to the crypto industry when he said he intends to nominate cryptocurrency advocate Paul Atkins as the next chairman of the Securities and Exchange Commission.
Bitcoin has soared to unprecedented heights since Trump won the election on November 5. The cryptocurrency rose dramatically from USD 69,374 on election day to USD 103,713 on Wednesday, according to CoinDesk. Just two years ago, bitcoin fell below USD 17,000 following the collapse of crypto exchange FTX.
How long bitcoin will stay above the USD 100,000 mark is uncertain. It fell back below US$102,000 on Thursday morning. Like everything else in the volatile cryptoverse, it’s impossible to predict the future. And while some are excited about future gains, other experts continue to warn about investment risks.
