Bitcoin’s Moment
Bitcoin’s climb past the $100,000 mark is a watershed moment in the evolution of crypto-currencies, symbolising their growing acceptance as a legitimate asset class.
Bitcoin’s climb past the $100,000 mark is a watershed moment in the evolution of crypto-currencies, symbolising their growing acceptance as a legitimate asset class.
Christopher Wood, global head of equity strategy at Jefferies, plans to book profit in bitcoin once it hits the USD 1,50,000 mark, up nearly 53% from the current levels of USD 98,300 levels.
After a row erupted over an alleged "bitcoin scam" linked to the Maharashtra Assembly elections, BJP leader Vinod Tawde said that the Election Commission of India (ECI) should also take immediate action against the Maha Vikas Aghadi (MVA) leaders Supriya Sule and Nana Patole "on the basis of viral audio and chat."
On Monday, as of 10:21 a.m. in London, Bitcoin extended gains to hit an unprecedented $82,300 while on Sunday, the largest token climbed as much as 6.1%.
About 85 per cent of the world’s cryptocurrencies are worth less than one cent, according to a report on Monday.
According to the reports, the Bitcoin ETFs saw total net inflows surpassing $241 million on May 20. BlackRock’s Bitcoin ETF, IBIT, drew in over $66 million in net inflows, while Fidelity’s Bitcoin ETF, FBTC, registered net inflows of $64 million.
This technical event happens every four years. It is when the rewards for Bitcoin miners are cut in half.
Amid the Iran-Israel war, the largest cryptocurrency – Bitcoin – slid 7.7 per cent marking the biggest such retreat since March 2023.
Bitcoin retreated from its record high of more than $73,000 as the market witnessed a selloff and higher-than-predicted US inflation data signalled that interest rates might stay high.
Amid the continuous rally, the cryptocurrency Bitcoin has climbed up the ranks to become the world's eighth most valuable asset by market capitalisation, surpassing silver.
