BlackRock’s iShares Bitcoin Trust (IBIT) has been pivotal in this rise, achieving a net asset value of $33 billion, as Bitcoin's price hit a record of over $80,000.
The recent U.S. elections have significantly impacted the cryptocurrency industry, with pro-crypto candidates securing critical victories, including Donald Trump's win over Kamala Harris.
The adoption of cryptocurrency demands not only technical changes but a cultural shift in how we perceive value, trust, and money itself, ultimately posing the question: are we on the verge of a profound transformation in our financial systems?
State pension funds are increasingly considering Bitcoin as a diversification strategy due to its potential to act as "digital gold" and a hedge against economic volatility.
Trump’s evolving stance could significantly impact U.S. cryptocurrency policy, potentially classifying Bitcoin as currency rather than a taxable asset.
The SFC plans to approve more digital asset exchanges by year's end, following a meticulous review process, to balance innovation with investor protection.
Beyond a financial asset, Bitcoin symbolises a movement towards financial autonomy and decentralisation, continuing to influence global innovations and empowering individuals worldwide.