Bitcoin smashes $100,000 level in digital currency market

KABUL (Pajhwok): The value of Bitcoin (BTC) has reached its highest level since its entry into the digital currency market, with the value of one unit in financial markets reaching more than $100,000, a media report said on Thursday.

According to Reuters Bitcoin hit a record high above $100,000 on Thursday as the election of Republican Donald Trump as U.S. president fuels expectations that his administration will usher in a friendly regulatory environment for crypto currencies.

“Smashing through the $100,000 level does not represent Bitcoin going mainstream. It’s merely a psychological factor and ultimately just a number.

“A lot of people have got rich from the cryptocurrency soaring in value this year, but this high-risk asset isn’t suitable for everyone. It’s volatile, unpredictable and is driven by speculation, none of which makes for a sleep-at-night investment.

The original founder of Bitcoin is still unknown, but a person known as Satoshi Nakamoto is known as the creator of Bitcoin, although his true identity is also unclear.

Some financial experts have predicted that Bitcoin has the potential to rise to $1 million or even more in the future.

The first Bitcoin was mined in late 2008 and entered the financial markets in early 2009. In the early days, the value of this cryptocurrency was less than one dollar and was calculated based on tradition.

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