Home » Bitcoin hits 2-year high at $57,000, up over 10% in 2 days | Reuters

Bitcoin hits 2-year high at $57,000, up over 10% in 2 days | Reuters

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Bitcoin hits 2-year high at $57,000, up over 10% in 2 days | Reuters

On February 27th, the crypto asset (virtual currency) Bitcoin hit the $57,000 level in Asian trading, hitting a two-year high. The photo was taken in January in Sarajevo, Bosnia and Herzegovina (2024 Reuters/Dado Ruvic)

SINGAPORE (Reuters) – Cryptocurrency Bitcoin hit the $57,000 level in Asian trading on the 27th, hitting a two-year high. There was a large amount of buying from institutional investors.

Ether also hit the $3,200 level for the first time in two years.

Bitcoin has risen more than 10% in two days after US software company MicroStrategy announced on the 26th that it had invested $155 million to purchase approximately 3,000 Bitcoins.

The recent approval in the United States of exchange-traded funds (ETFs) that track physical Bitcoin is also a tailwind. On the 26th, the trading volume of some of these ETFs surged. Stock prices of crypto asset-related companies also rose.

Bitcoin briefly rose to $57,036 in morning trading Asian time, its highest since late 2021. Ether rose to $3,275, its highest price since April 2022.

“Supply is limited,” said an executive at Keylock, a market maker for digital assets. “The demand associated with the U.S. approval of physical ETFs appears to be unstoppable.”

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