On Monday evening, the cryptocurrency Bitcoin exceeded the $50,000 mark for the first time in over two years. According to a report from “Handelsblatt”, Bitcoin was more expensive in December 2021.
The Bitcoin price rose above the $45,000 mark at the start of the new year. In January, the US Securities and Exchange Commission (SEC) approved the launch of Bitcoin funds. This caused the price to briefly skyrocket. The so-called spot ETF on Bitcoin allows investors to invest in Bitcoin without having to directly purchase the digital currency itself.
According to the Finanz.ch portal, another upcoming event makes investors look positively on Bitcoin: the next so-called “Halving” is scheduled for April. This reduces the reward that Bitcoin miners receive for verifying crypto transactions. “Ultimately, the process leads to a slower growing supply of Bitcoin, which has so far mostly led to rising prices,” says the portal.