(Reuters) -Bitcoin rose to more than $ 60,000 to approach record highs over the weekend, coming out of a tight two-week span and fueled by talks about new supplies constrained against evidence of wider adoption.
The largest and most famous cryptocurrency in the world reached $ 61,222.22 on Saturday, the highest in the last month. It was slightly lower at $ 59,907 at 0500 GMT on Sunday.
Bitcoin (BTC) rose 116% from $ 27,734 on January 4. It crossed the $ 60,000 mark for the first time on March 13, reaching a record $ 61,781.83 on the Bitstamp stock exchange, just after US President Joe Biden signed $ 1.9 trillion. the package of fiscal stimuli in the law.
Justin d’Anethan, sales manager at Hong Kong-based digital asset company Diginex, said investors have turned their attention to stock markets and other cryptocurrencies in the past two weeks, leaving Bitcoin idling at levels above 50,000. of dollars.
“That changed just yesterday when I broke through 60K. Given that miners do not sell recently suspected coins, stock market reserves that have reached minimum values for several years and a steady stream of corporations, funds, large and small investors piling up in BTC, we have broken through, “he said. .
This year’s amazing earnings of Bitcoin were determined by its main acceptance as an investment and means of payment, accompanied by the acceleration of retail cash in shares, exchange traded funds and other risky assets.
It has grown this year as major companies such as BNY Mellon, asset manager BlackRock Inc, credit card giant Mastercard Inc, have backed cryptocurrencies, while those like Tesla Inc Square Inc and MicroStrategy Inc have invested in bitcoin.
Large US banks, such as Morgan Stanley, are also looking to give wealth management customers access to bitcoin funds.
Reporting by Aakriti Bhalla in Bengaluru and Vidya Ranganathan in Singapore; Mountainous of William Mallard