Bitcoin Skyrockets: The Cryptocurrency Revolution Hits New Heights

Bitcoin has surged past USD 99,000, nearing the USD 100,000 mark, a dramatic rise after the FTX collapse two years ago. The rally is fueled by expectations of a crypto-friendly Trump administration. Despite optimism, experts caution about investment risks amid volatile market conditions.

Bitcoin continues to shatter records, reaching an all-time high of over USD 99,000 recently. This marks a remarkable rebound from the depths below USD 17,000 when the FTX exchange collapsed merely two years ago. Driving this unprecedented rally is the anticipated regulatory shift under the Trump administration, perceived as more favorable toward cryptocurrency.

This surge in bitcoin's valuation follows Trump's commitment to turning the US into the 'crypto capital of the planet'. His proposals include a strategic bitcoin reserve and new crypto trading ventures. The crypto market's optimism is palpable, yet experts warn that the inherent volatility poses significant risks to investors.

The environmental consequences of bitcoin mining continue to be a pressing concern. The process is energy-intensive, predominantly powered by pollutive sources. Recent studies equate its carbon footprint to burning billions of pounds of coal. Despite increasing calls for eco-friendly practices, the sector's reliance on fossil fuels remains substantial.

(With inputs from agencies.)