The Iran Project
: The price of Bitcoin, the world’s highest-valued cryptocurrency, surged past the $64,000 mark on Wednesday approaching an all-time high reached in November 2021, according to CoinDesk.
Wednesday 28 February 2024 - 21:54
Story Code : 416380
Source : RT
Bitcoin scorches past $64,000
The leading cryptocurrency has reached a two-year high after several consecutive days of gains
The digital currency has surged for a fifth consecutive day, supported by inflows into US-based spot Bitcoin exchange-traded funds (ETFs). ETFs allow more retail investors to hold Bitcoin indirectly via funds that trade on exchanges. The launch of ETFs in early January has helped drive the value of Bitcoin up nearly 40% so far.
According to Reuters, traders are also investing in Bitcoin ahead of the upcoming halving in April, a process designed to slow the release of the cryptocurrency.
The value of all the Bitcoin in circulation has exceeded $2 trillion this month for the first time in two years, according to Reuters, which cited the crypto platform CoinGecko.
Bitcoin reached an all-time high of $68,982.20 in November 2021 before dropping to around $29,000 last July due to uncertainty caused by the criminal charges against Binance founder Changpeng Zhao and amid concern about economic woes in China.
Reporter : Editorial of The Iran Project
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