Bitcoin has achieved a new record high today, exceeding $75,000 and consequently surpassing the previous record of $73,738 from March this year. This remarkable achievement reflects the growing confidence in digital assets amid economic and political changes, particularly the US Presidential elections.
Since the start of 2024, Bitcoin has grown by over 70%, an increase that is attributed to a mix of macroeconomic trends and strategic financial innovations – with the US elections being a significant driver of this growth.
Another key factor is the launch of Bitcoin spot exchange-traded funds (ETFs) in the USA last January. This significant milestone has increased the participation of institutions in the cryptocurrency space.
Major investment funds, including BlackRock and Fidelity, have launched Bitcoin spot ETFs, sparking significant investor interest and introducing cryptocurrencies to the mainstream of investment portfolios. According to a recent report by Binance Research on spot ETFs for Bitcoin, these funds have so far amassed over $63.3 billion in total, accounting for about 5.2% of the total supply of Bitcoin. This institutional presence not only reflects confidence in the long-term viability of Bitcoin, but also emphasizes its growing role in the global financial system.
“Bitcoin’s rise to this new record demonstrates its resilience and attractiveness as a store of value. After a period of stabilization, this milestone underscores the ongoing optimism around Bitcoin and its potential for sustainable growth in both traditional and emerging markets”- said Lukasz Pierwienis, General Manager of Binance Poland.
The Binance representative also noted that the new all-time high exhibits the influence of favorable events in the cryptocurrency landscape and confirms the growing adaptation of digital assets to global financial trends.
“Looking ahead, we see a great deal of optimism in the cryptocurrency market, as the role of Bitcoin in diversified portfolios continues to expand and it gains wider acceptance”- commented Lukasz Pierwienis.
Source: https://ceo.com.pl/cena-bitcoina-osiaga-nowy-rekord-wszech-czasow-92803
