As former U.S. President Donald Trump's election as president was officially certified by the U.S. Congress, the price of Bitcoin rose sharply, retaking the $100,000 mark.
As of 11:20 a.m. ET on the cryptocurrency exchange Coinbase, the price per unit of Bitcoin was $102,081, up 4.1% from 24 hours ago.
Around the same time, Ethereum was trading at $3,701.27, up 2% from the previous day, while Ripple gained 2.7%, Solana gained 3.7%, and Dogecoin gained 1.5%.
Shares of Coinbase and Bitcoin investment firm MicroStrategy rose 6% and 11% respectively on the New York Stock Exchange, as the Trump administration's regulatory reforms are expected to boost virtual currencies this year.
However, Bloomberg said the key is to how much Trump will fulfill his virtual currency pledges, such as stockpiling Bitcoin, and in his own survey, 39% of respondents said their Bitcoin investment would lose money this year.
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