Bitcoin price surges to $49,000 after SEC approves Bitcoin ETFs
The price of Bitcoin, the first decentralized cryptocurrency, increased by more than 5%, reaching an intraday high of US$49,000 on Thursday, January 11, after the US Securities and Exchange Commission (SEC) approved the establishment of Bitcoin exchange-traded funds (ETFs) by investment firms. This was a significant development for Bitcoin, as it indicated a potential revival for the world’s largest crypto price token by market capitalization.
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