Cryptocurrency bitcoin hit a two-year high above $57,000 in Asia trade on Tuesday on signs of heavy institutional buying, while smaller rival ether topped $3,200 for the first time in two years.
Bitcoin has rallied more than 10% in two sessions, helped by a Monday disclosure from crypto investor and software firm MicroStrategy (MSTR.O), opens new tab that it had recently purchased about 3,000 bitcoins for an outlay of $155 million.
The original and largest cryptocurrency by market value has also been buoyed recently by the approval of bitcoin-owning exchange-traded funds (ETFs) in the United States. On Monday, trading volumes in several of the funds spiked and crypto-linked firms rallied too, in contrast to nervous broader markets.
The all-time high for bitcoin’s market cap was $1.28 trillion hit in November 2021, according to Coingecko.
The world’s largest cryptocurrency has risen around 20% since the start of February, already set for its biggest monthly rise since October.
Investments in bitcoin make up for more than half of the $2.01 trillion parked in the overall cryptocurrency market which includes ether and other digital coins.
from ARY NEWS https://ift.tt/7WeYXqE
via IFTTT
0 Comments