Bitcoin passed the US$60,000 mark today, approaching its all-time high and continuing its unbridled rise since the approval of a new type of investment indexed to the cryptocurrency. At 1.25pm, bitcoin traded at about US$60,301, closing in on its all-time high of US$68,991 – that was struck in November 2021 and which some analysts believe is now within reach.
Since their approval on Jan 10 by US securities regulators, exchange-traded funds (ETFs) indexed to bitcoin have theoretically enabled a wider public to invest in the cryptocurrency without having to hold it directly.The expected approval of the new investment product had contributed in recent months to a rise in its price, which had largely fallen by the end of 2022 following the bankruptcy of several crypto giant
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