Bitcoin, the world’s largest cryptocurrency, has been on a bullish streak lately, reaching new highs in 2023.
The digital asset has benefited from several positive catalysts, such as growing institutional adoption, regulatory clarity, and innovation in the crypto space. Here are some of the recent developments that have boosted the Bitcoin price and sentiment:
* Fidelity and BlackRock, two of the largest asset managers in the world, have filed applications with the U.S. Securities and Exchange Commission (SEC) to launch spot Bitcoin and Ethereum exchange-traded funds (ETFs). These products would allow investors to gain exposure to the underlying cryptocurrencies without having to deal with the technical aspects of custody and trading.
* Argentina has elected a new pro-Bitcoin president, Javier Milei, who is a vocal advocate of Bitcoin and its principles. Milei has promised to protect Bitcoin from government interference and to promote its adoption as a hedge against inflation and currency devaluation. His victory has been applauded by Bitcoin enthusiasts around the world, who see it as a sign of the growing influence of Bitcoin in politics.
* OpenAI, one of the leading artificial intelligence research organizations, has ousted its CEO and board member Sam Altman, who is also the co-founder of Worldcoin, a controversial project that aims to distribute cryptocurrency to everyone in the world using iris scans. The board said it “no longer has confidence in [Altman’s] ability to continue leading” the company, and Worldcoin’s price dropped 12% following the news.
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