2023-06-23 19:00:03
The digital currency Bitcoin reached its highest level in a year on Friday. The price of the oldest and largest crypto asset by market value briefly rose to $31,411. This is the highest level since June 2022. In the morning it had cost less than $ 30,000 at times.
Other much-noticed cryptocurrencies such as Ethereum or Cardano also picked up significantly. “Hope for the first-time listing of a physically backed Bitcoin ETF on US land could keep the recent price rally alive,” commented crypto expert Timo Emden. Blackrock, the world’s largest asset manager, and US-based exchange-traded fund (ETF) WisdomTree applied to launch Bitcoin ETFs last week.
“The reason for the price jump is largely based on speculation that Blackrock could soon be given the green light for a Bitcoin spot ETF,” Emden writes. Like traditional funds, ETFs are special assets that are specially protected in the event of the insolvency of a provider. “Last but not least, the launch of the EDX Markets stock exchange, which is driving institutional interest in particular, is providing an additional boost to the market.”
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On Wednesday evening, Bitcoin climbed above the psychologically significant $30,000 mark for the first time since April. Bitcoin fell as low as $24,853 last week, its lowest level since March. Since then, the price has recovered by a good $6,000. At the beginning of the year, Bitcoin had only cost around $16,500.
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