Bitcoin marks highs this Sunday and is increasingly close to surpassing for the first time in its history the $80,000 barrier. After an increase of more than 4% in what has been its sixth consecutive session on the rise, ‘crypto’ continues to break records.
During this early morning, bitcoin has reached a quote of more than $79,500after having appreciated more than 9% last Wednesday after the victory of Republican candidate Donald Trump in the United States presidential elections.
The boost is explained by the support that the magnate has shown for the main cryptocurrency throughout his presidential campaign, in which he assured that he plans to make the United States the country with the higher reserves of this asset, as experts remember.
In the year, bitcoin appreciates more than 70%and Binance analysts attribute that rise to a combination “of macroeconomic trends and strategic financial innovations, with the US elections as the main significant driver of this increase.”
Another important factor, they remember, was the launch of the bitcoin exchange traded funds (ETFs) spot in the United States in January, “a significant milestone that has amplified institutional participation in the crypto space.”
Major financial giants such as BlackRock and Fidelity launched bitcoin spot ETFs, garnering widespread interest and introducing the cryptocurrency into mainstream investment portfolios, they explain. According to Binance data, since their launch, spot bitcoin ETFs have accumulated more than $63 billion, which represents 5.2% of the total supply of this cryptocurrency.
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