Bitcoin's Potential Surge to $130,000 by Spring: Insights and Implications
The cryptocurrency landscape is witnessing a transformative phase with new legislation signed into law in the summer of 2024 by President Vladimir Putin. This legislative change has revolutionized crypto-mining opportunities for both industry players and ordinary citizens. Sergey Bezdelyov, Director of the Industrial Mining Association, highlights that individuals can now engage in crypto mining as long as they adhere to electricity consumption limits set at 6000 kWh per month. Exceeding this limit requires registration as an individual entrepreneur.
This shift has bolstered confidence within the sector, leading to a threefold increase in demand for mining equipment and services during the last quarter of 2024 compared to the previous year. The global interest in crypto-mining is on a steep rise, particularly among BRICS countries. With Bitcoin experiencing an astounding surge of 157.3% over the past year, projections suggest its price could reach $130,000 by spring.
This potential upswing presents Russian companies with promising avenues to diversify their assets and leverage cryptocurrencies in international trade (source: Bit Perfect Solutions - https://bitperfect.pe/de/konnte-bitcoin-bis-zum-fruhling-auf-130-000-katapultiert-werden-das-sollten-sie-wissen/). Despite these prospects, it remains crucial for investors worldwide to carefully evaluate how recent legal changes might impact their portfolios while considering inherent risks associated with digital currencies.
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