The arrival of Bitcoin as an exchange-traded fund product has increased the cryptocurrency's popularity.
Virtual currency bitcoin hit $50,000 for the first time in over two years. Early on Tuesday, its value rose to 50,379 dollars in Singapore, or just under 47,000 euros.
Since the beginning of 2023, the value of bitcoin has tripled, the news agency Bloomberg reports.
Bitcoin's value is still far from its peak value of $69,000 in 2021.
Last the price development of the times must have been accelerated by the fact that a month ago, the SEC, the authority that oversees securities trading on the US stock exchanges, approved bitcoin for the first time as a product for determining the value of ETF funds.
In this way, changes in the value of bitcoin have also been able to be traded outside of crypto exchanges, in more conventional trading places and platforms.
According to Bloomberg, investment funds amounting to 2.8 billion dollars have flowed into the bitcoin ETF that follows the value of ten bitcoins.
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