Bitcoin surged to around $44,000 amid a bullish sentiment partly attributed to a move by the Canadian authorities to include cryptocurrencies in anti-money laundering surveillance.
Canadian deputy prime minister, Chrystia Freeland, says that the new directive aims to end the ongoing ‘Freedom Convoy’ protests.
The protests have attracted the attention of the cryptocurrency community in light of the action of crowdfunding platforms and the role of digital assets in the unrest.
A popular Twitter account dubbed Phoenix remarked that the $45,500 level is an essential zone for the token to rise further.
Altcoins have also registered gains in the past 24 hours, with ether rising about 8%. Binance Coin, Avalanche, and Solana have also surged.
The host of the ‘What is money?’ podcast, Robert Breedlove, reiterates the importance of digital money and its role against stringent policies, terming the asset class as ‘unstoppable money.’