Trump Makes Big Decision for Cryptocurrencies, America to Enforce Regulations, Bitcoin

Due to this there was a lot of growth in the crypto market. The price of the most popular cryptocurrency Bitcoin also made a record level. However, earlier this week there was a huge decline in the market due to there being no mention of crypto in Trump’s first address after becoming President. The US Securities and Exchange Commission (SEC) said on Tuesday that a task force has been formed with the aim of preparing a regulatory framework for cryptocurrencies. The previous US government had taken action against many crypto-related firms by accusing them of violating rules. These firms included Coinbase and Kraken. However, these firms had denied the allegations of violation of rules.

The interest of institutional investors in this segment is increasing. Software maker MicroStrategy has bought a large number of Bitcoins in the last few weeks. This company has purchased about 11,000 bitcoins for about $ 1.1 billion in the week ending January 19. This marks MicroStrategy’s 11th consecutive week of large purchases of Bitcoin.

The company’s executive chairman, Michael Saylor, has given this information in a post on social media platform X. MyskoStrategy holds approximately 4,61,000 Bitcoins. In order to raise funds for the purchase of Bitcoin, the company is planning to increase its authorized Class A common stock from approximately 330 million shares to more than 10 billion shares. With this increase in the shares of this American company, the total number of its outstanding shares will be close to that of Alphabet, the American company that operates e-commerce and technology-related Amazon and Internet search engine Google. In October last year, MicroStrategy had said that it would raise about $ 42 billion by selling debt and issuing shares to buy Bitcoin in three years. Its share price has increased by more than 2,500 percent since the company started buying Bitcoin.