Bitcoin surged to an all-time high of more than $69,000, surpassing the record it set at the peak of the last crypto bull market more than two years ago.
In an ironic twist, Bitcoin owes much of its resurgence to a regulator long-viewed as hostile to crypto: the US SEC. The SEC approved spot-Bitcoin exchange-traded funds in early January after suffering a legal defeat last year in its attempt to reject them.
The move has widened the mass-market accessibility of Bitcoin, helping the crypto sector to turn the page following a bear market in 2022 and a string of subsequent bankruptcies, including the implosion of Sam Bankman-Fried’s FTX exchange. Read more here: https://trib.al/YXFgJ2Q
Subscribe to the Bloomberg Crypto Telegram channel: https://t.me/bloombergcrypto
: Getty Images
