What's Going On With Bitcoin Today?

BY Benzinga | ECONOMIC | 11/20/23 04:13 PM EST

Bitcoin (CRYPTO: BTC) is climbing Monday following the election of crypto-advocate, Javier Milei as the president of Argentina.

What To Know:

Javier Milei is a self-described "anarcho-capitalist" who has advocated for the abolition of the central bank, restricting government spending and a return to capitalist ideals. Milei supports Bitcoin and cryptocurrencies as a return of the control of money to the private-sector and away from a centralized banking system.

Milei has said, "We have to understand that the central bank is a scam," when asked about bitcoin. "What bitcoin is representing," he continued, "is the return of money to its original creator, the private sector."

Milei has criticized the country's central bank for money-printing and contributing to massive inflation and plans to replace the peso with the U.S. dollar as the official currency. After the election was conceded on Sunday night, Milei said, "Closing the central bank is a moral obligation."

Related News: What's Going On With C3.ai Stock?

BTC Price Action: According to Benzinga Pro, Bitcoin is up 2.37% at $37,435.37 at the time of publication.

Image: digital designer from Pixabay

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.