btc$BTC

Crypto assets like Bitcoin are now easily traded by US citizens as if they were regular stocks, Wall Street heavyweights are now calling them a wise investment, and the new administration in Washington is promising major legislative changes to support the sector.

For example, Bitcoin investors have seen a 126% increase since the beginning of the year, as the price of the world's largest digital currency has risen to record levels, exceeding the $100,000 barrier after Donald Trump was elected.

According to CoinMarketCap data, the market value of digital currencies has increased by nearly $1.7 trillion, according to what was reported by the Yahoo Finance website and reviewed by Al Arabiya Business.

Ian Katz, managing partner at Capital Alpha, said in a statement to Yahoo Finance: "All the conditions are in favor of the cryptocurrency industry right now."

One of the most prominent beneficiaries of this shift was BlackRock, led by Larry Fink, who was previously a staunch Bitcoin skeptic, but has since become one of its most prominent advocates.