Bitcoin’s rise showed no signs of slowing on Wednesday — gaining another $2,023.63, or 2.19 percent, to hit $94,304.65.
Forbes noted that there has been what investors see as a “perfect storm” that keeps BTC rolling.
President-elect Donald Trump is expected to be the country’s first pro-crypto president, and he has picked a team that have spoken out favorably about the asset. The Forbes report noted that Neel Kashkari, the Minneapolis Federal Reserve president, “softened” his stance on BTC and said he will “keep an open mind.”
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Kashkari once called bitcoin “fraudulent” and “worthless.”
He still questions the value of bitcoin: “Other than as a speculative asset, what does it actually do in the real economy? It’s been a dozen years.”
Last month, Kashkari was also down on bitcoin. He told Wisconsin’s Chippewa Falls Area Chamber of Commerce that “very few transactions are actually happening.”
“They’re not paying for goods and services using crypto. It almost never happens unless people are buying drugs or other illegal activities,” he said, according to Decrypt.
Bitcoin options trading began on BlackRock’s iShares Bitcoin Trust ETF yesterday andtraded 73,000 options contracts in the first hour of trading, according to CNBC. The report noted that spot bitcoin ETFs started trading in January “and have been hailed as the most successful ETF launches in history.”