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Bitcoin Bounces Back: The Cryptocurrency’s Return to Prominence Seen by The Hill

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“Discover how Bitcoin is making a triumphant comeback with The Hill’s unique insights and human touch. Stay informed on the latest trends and developments in the cryptocurrency world. Don’t miss out on the opportunity to ride the wave of Bitcoin’s resurgence.”



Bitcoin has surged past $60,000 for the first time since 2021, reaching its highest price in months. This remarkable growth comes after a significant rally in February, with the price of bitcoin surging by more than 40% in just one month. This surge is a stark contrast to the situation a year ago when bitcoin was struggling below $20,000.

The recent increase in bitcoin’s value is attributed to various factors, including the approval of the first-ever U.S. spot exchange-traded funds by the Securities and Exchange Commission. This move opened the floodgates for large investments from prominent financial institutions like BlackRock, injecting billions of dollars into the cryptocurrency market.

Bitcoin currently dominates over half of the global cryptocurrency market, with its value accounting for nearly $1.2 trillion out of the $2.3 trillion total cryptocurrency market. This surge in bitcoin’s price showcases the growing confidence and interest in digital assets among investors and financial entities.

In a related development, the Federal Communications Commission (FCC) is exploring measures to curb the misuse of smart car services by domestic abusers to track and harass their partners. The FCC Chair, Jessica Rosenworcel, proposed utilizing existing laws to safeguard survivors of domestic abuse from such invasive practices.

On the tech front, Coinbase, a popular cryptocurrency exchange, faced technical issues amidst bitcoin’s rally, prompting reassurance from Coinbase Support regarding the safety of users’ funds. Additionally, Google’s CEO condemned the biased responses generated by the company’s AI chatbot, Gemini, calling them “completely unacceptable.”

Looking ahead, President Biden is set to issue an executive order aimed at preventing the transfer of personal data to adversarial nations like Russia, China, and Iran. This directive underscores the importance of protecting sensitive data from exploitation by potential threats.

In the AI realm, Apple is making significant investments in generative AI, aiming to disclose more details about its plans during an upcoming shareholder meeting. Moreover, an inquiry into the ousting of OpenAI’s CEO is nearing completion, shedding light on the decision-making process behind his temporary removal.

As the tech landscape continues to evolve rapidly, stay tuned for more updates on the intersection of technology and other crucial topics. For the latest news and trends, visit The Hill’s Technology newsletter, your go-to source for all things tech.

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