Bitcoin hits all-time high | Premium Times Nigeria
The price of Bitcoin, the world’s most popular cryptocurrency, skyrocketed to a new all-time-high record on Tuesday afternoon.
The development follows concerns that the global interest rates may fall, prompting investors to look significantly into U.S. spot exchange-traded crypto products.
According to the data published on coinmarketcap, a platform that tracks live time market data of digital coins, the price of Bitcoin climbed to $69,170.63 on Tuesday—the highest rate the digital token has ever reached since it was officially launched in January 2009.
The new rate surpassed the November 2021’s all-time peak of $68,999.99.
Reports said investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January. This made Bitcoin trade lower and was last at $65,792.
“The bitcoin all-time high marks a turning point for crypto,” Reuters quoted Nathan McCauley, CEO and co-founder of crypto platform Anchorage Digital, as saying.
ALSO READ: Why 2023 is a good year to buy Bitcoin
“Traditional institutions were once sitting out; today, they are here in full force as the principal drivers of the crypto bull market,” he added.
According to LSEG data, net flows into the 10 largest U.S. spot bitcoin funds reached $2.2 billion last week Friday, with more than $2 billion of that going into BlackRock’s iShares Bitcoin Trust (IBIT.O), which opens a new tab.
Within the past 24 hours, bitcoin has traded within an intraday low of $63,460.01 and surged to a high of $69,170.63.
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The price of Bitcoin, the world’s most popular cryptocurrency, skyrocketed to a new all-time-high record on Tuesday afternoon.
The development follows concerns that the global interest rates may fall, prompting investors to look significantly into U.S. spot exchange-traded crypto products.
According to the data published on coinmarketcap, a platform that tracks live time market data of digital coins, the price of Bitcoin climbed to $69,170.63 on Tuesday—the highest rate the digital token has ever reached since it was officially launched in January 2009.
The new rate surpassed the November 2021’s all-time peak of $68,999.99.
Reports said investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January. This made Bitcoin trade lower and was last at $65,792.
“The bitcoin all-time high marks a turning point for crypto,” Reuters quoted Nathan McCauley, CEO and co-founder of crypto platform Anchorage Digital, as saying.
ALSO READ: Why 2023 is a good year to buy Bitcoin
“Traditional institutions were once sitting out; today, they are here in full force as the principal drivers of the crypto bull market,” he added.
According to LSEG data, net flows into the 10 largest U.S. spot bitcoin funds reached $2.2 billion last week Friday, with more than $2 billion of that going into BlackRock’s iShares Bitcoin Trust (IBIT.O), which opens a new tab.
Within the past 24 hours, bitcoin has traded within an intraday low of $63,460.01 and surged to a high of $69,170.63.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
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