Cryptocurrencies rose on Wednesday after US President Joe Biden signed a document requiring government agencies to weigh the benefits and risks of creating a digital dollar from the country’s central bank and other security issues. crypto assets.
Biden’s decision will require the Treasury Department, the Commerce Department and other key agencies to prepare reports on “the future of money” and the role cryptocurrencies will play.
“The market has clearly been buoyed by conversations about supporting responsible innovation and a constructive approach to regulating the evolving digital token economy,” the Bitfinex Trading team said in a note.
At 2:02 pm ET, Bitcoin was up 9% to $42,292 (R$ 211,832), on track for its biggest gain since Feb 28, while Ether, the currency linked to the Ethereum blockchain network, was up 6,000. 2% to US$ 2,737 (R$ 13,709).
Exchange-traded funds (ETFs) that track bitcoin futures that gained regulatory approval late last year also jumped. ProShares Bitcoin Strategy ETF and Valkyrie Bitcoin Strategy ETF were up 9.6% and 9.7%, respectively.
US cryptocurrency miners who act as a proxy for movements in digital currencies also advanced. Riot Blockchain is up 10.6% and Marathon Digital Holdings is up 11.3%, while cryptocurrency exchange Coinbase is up 8.2%.
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