1704096491
© REUTERS
Bitcoin price was around $43,000 on Friday. The value of the world’s largest cryptocurrency has increased by almost 160 percent this year.
Friday, December 29, 2023 at 12:58 p.m
In early December, Bitcoin hit $40,000 for the first time since May 2022. The cryptocurrency started the year with a value of around $16,600.
The push is largely due to optimism that American regulators could grant approval for the first exchange-traded Bitcoin funds early next year. This would allow large investors in particular to regain more trust in the digital currency.
Several major financial firms, including BlackRock, have filed applications for such publicly traded Bitcoin funds with the U.S. Securities and Exchange Commission (SEC) this year. If the stock exchange regulator approves the applications, this will lead to billions of dollars in additional crypto investments. According to BlackRock CEO Larry Fink, these products will make it easier and cheaper for investors to invest in the digital currency.
Bitcoin price is still well below the record level of around $69,000 reached in November 2021. The price movements of digital currencies are often very unpredictable. The crypto market is also regularly rocked by unrest and scandals, such as the collapse of the major trading platform FTX last year.
#Bitcoin #worth #percent