On Tuesday hackers posted false news about a widely anticipated announcement that the SEC was expected to make about bitcoin, leading the cryptocurrency’s price to spike and alarming observers. The widely anticipated move has been expected to give bitcoin more mainstream integration and boost investment – and the initial SEC tweet caused bitcoin’s price to spike nearly $48,000. “The SEC has not approved the listing and trading of spot bitcoin exchange-traded products,” he said. However, on Wednesday the SEC did approve 11 spot bitcoin exchange-traded funds. “This alone is a transformational event for hundreds of millions of investors and the bitcoin community.”Reuters contributed to this story

Source: The Guardian January 11, 2024 19:56 UTC