Bitcoin: If You're Going for Risky Coins, Go Big
The recent surge in Bitcoin's value has been remarkable, with the cryptocurrency reaching nearly 90,000 euros. According to an article from ZEIT Campus titled "Bitcoin: If You're Going for Risky Coins, Go Big," those who invested 5,000 euros in Bitcoin just before the U.S. elections on November 5th have seen a profit of approximately 2,000 euros. The gains are even more significant for investors in Coinbase stocks, amounting to around 3,500 euros. This financial windfall is attributed to Donald Trump's campaign promises during his presidential run where he vowed to keep the crypto market largely unregulated and support Bitcoin mining through affordable energy sources.
The Race for Bitcoin: Goldman Sachs Discloses Bitcoin Position
Krypto Guru reports that Wall Street giant Goldman Sachs has made headlines by revealing its substantial new position in Bitcoin valued at $710 million across various ETFs as detailed in their article "The Race for Bitcoin: Goldman Sachs Discloses Bitcoin Position." Previously cautious about cryptocurrencies, this move marks a strategic shift reflecting growing institutional interest and could be pivotal for broader adoption within traditional finance sectors. Notably since August there was an increase of over 83% in IBIT holdings up to $461 million while GBTC investments rose by 116% totaling $71.8 million.
This development coincides with regulatory easing post-election of pro-crypto President Trump alongside supportive legislative actions from Congress members favoring digital assets which might further stimulate mainstream engagement via secure investment vehicles like ETFs according to analysts cited by Krypto Guru.
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