Helena Lyng Blak
33 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.

Disclaimer

The information provided by this Site is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.

More News

19 weeks ago Analysis: New Debate Rules Favor Biden New rules announced for the June 27th debate between Joe Biden and Donald Trump serves the President well.
19 weeks ago StanChart Becomes Among the First Global Banks to Launch Spot Crypto Trading StanChart breaks new ground by launching spot trading for Bitcoin and Ether, leading the charge among global banks in the cryptocurrency space.
19 weeks ago Crypto, Currently: June 21, 2024 - Market Bears Down on Major Cryptos Daily update on the five cryptocurrencies, we consider the most interesting right now.
19 weeks ago FX Daily: June 21, 2024 – Forex Market Update Daily update from the foreign exchange markets.
19 weeks ago Amazon Plans To Make Largest Reduction of Plastic Packaging in North America To Date Amazon's response to mounting criticism over its plastic waste with a new reduction plan.
19 weeks ago Ex-OpenAI Chief Scientist Ilya Sutskever Launches New Company Amid Criticism of ChatGPT Parent's Board Appointments Ilya Sutskever, former chief scientist at OpenAI, has co-founded a new company, Safe Superintelligence Inc., amidst ongoing scrutiny of OpenAI’s recent board appointments.
19 weeks ago FX Daily: June 20, 2024 - Mixed Movements in Global Currency Markets Daily update from the foreign exchange markets.