Helena Lyng Blak
11 weeks ago

Bitcoin continues to surge

The cornerstone cryptocurrency has hit yet another record high.
A coin depicting the Bitcoin-symbol with an overlay of upwards trending financial graphics.
rzoze19 / Shutterstock

On Monday, Bitcoin's value rose above $71,000.

This surge occurred after the Financial Conduct Authority (FCA), the UK's financial regulator, announced it would not "object to requests from recognised investment exchanges to create a UK listed market segment for cryptoasset-backed exchange-traded notes (ETN)," reports The Guardian.

With this decision, the UK aligns with the global trend of regulators endorsing digital asset investment products, such as cryptocurrency.

In the US, the Securities and Exchange Commission (SEC) has also embraced this trend, recently approving US-listed Exchange-Traded Funds (ETFs) that track Bitcoin. These ETFs allow investors to purchase shares that represent Bitcoin, bypassing the need to directly hold the cryptocurrency.

Bitcoin, the world’s first decentralized cryptocurrency, was released in 2009 by an individual or group using the pseudonym Satoshi Nakamoto.

There is a fixed supply of 21 million tokens.

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