costs R1-million, nearly equalling the record high price set in November 2021, when the US dollar price of the token was around $65 000.
Because the rand has weakened significantly since then, bitcoin has breached the R1-million mark even though it is still trading well below its record high of almost $69 000 on 10 November 2021.was changing hands on Ovex, a South African-founded cryptocurrency exchange, at a fraction over R1-million shortly after 2.30pm on Wednesday. It last breached that level on 2 November 2021.
The price of bitcoin may also be climbing ahead of the next “halving” event, expected in mid-April. Halvings, where rewards paid to bitcoin miners are cut in half, have historically served to boost the value of bitcoin, sometimes significantly. –