Bitcoin has 'beat' Silver..!? Giant record..!!

As usual, Bitcoin is making waves. Last March, the cryptocurrency giant set an all-time record four times in five days. At that time, it crossed the mark of 73 thousand dollars for the first time. The market capitalization of Bitcoin surprisingly increased to 1.42 trillion dollars due to a huge response from investors. If you look at it in a way, then it is more than the value of silver which is 1.38 trillion dollars. The reason Bitcoin rallied to this level at the end of the last financial year was the launch of Spot Bitcoin Exchange Traded Funds in the US on january 11. Led by financial companies such as BlackRock and Fidelity Investments, these ETFs have collectively attracted $9.5 billion in investments. Due to this, the demand for beta coins has increased unexpectedly.
At that time the positive influence in America spread to other countries as well. This has boosted the demand for Bitcoin. The london Stock Exchange has also expressed readiness to consider applications for Bitcoin and Ether Exchange Traded Funds. With this, another financial system is getting ready to accept cryptocurrencies in the traditional financial market. thailand has also said it will allow retail investors to access foreign crypto ETFs.
Bitcoin price is not rising due to economic developments. Recent milestones like the approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC) and the upcoming Bitcoin halving have fueled interest in the cryptocurrency market. Investors, both experienced and new, are flocking to crypto. Investing in this market. Bitcoin recently 'beat' silver. Bitcoin has become the 8th largest asset in the world with a market value of $1.752 trillion. It surpassed silver at $1.726 trillion. Bitcoin rose 9 percent in 24 hours. 88,570 dollars. It is remarkable that the value of Bitcoin is higher than the giant companies (Meta 1.472 trillion dollars), (Tesla 1.124 trillion dollars), and Berkshire Hathaway (1.007 trillion dollars).
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Sowmiya Sriram

13/11/2024 02:06 PM