Bitcoin continues its relentless upward trajectory, consecutively breaking its historic records. On Monday morning, the price of the leading cryptocurrency surpassed the $120,000 milestone for the first time, according to Binance data.
Specifically at 6:41 a.m. (Greek time), Bitcoin’s price reached $120,000 (+1.87%). Just four minutes later, at 6:45 a.m., it marked a new historic high reaching $121,014.73, recording a +2.82% increase.
It should be noted that just a few days ago, on July 9th, the price had broken through the $112,000 barrier, rising to $111,999.
In March, US President Donald Trump signed an executive order to create a strategic cryptocurrency reserve. He has also appointed several crypto-friendly individuals, such as Securities and Exchange Commission Chairman Paul Atkins and White House AI “czar” David Sacks, notes Reuters news agency.
Trump’s businesses are also involved with cryptocurrencies. The Trump Media & Technology Group wants to launch a tradable mutual fund that would invest in multiple crypto tokens, including bitcoin.
Bitcoin does not require a central bank for its issuance. Bitcoin transactions take the form of digital transfers between users of the bitcoin network, without the need for intermediaries.
The authenticity and integrity of transactions are secured through cryptography-based techniques and recorded in a publicly distributed transaction ledger. Transactions are recorded in blocks that are issued approximately every 10 minutes, forming a connected chain called the blockchain.
