The Magazine for Asian Investors
Bitcoin is rising, after hitting a new all-time high, I think it’s now fair to say that “Bitcoin, like gold, is a hedge against inflation.”
With the launch of the first Bitcoin ETF on the New York Stock Exchange, Bitcoin is also gaining momentum and has surpassed the price level of $67,000 or 2,250,000 baht.
At 9:45 PM KST, bitcoin rose 4.14%t to $67,000.
Previously, Bitcoin had reached an all-time high of $64,895 in April.
I like bitcoin more than gold right now. Bitcoin clearly beats gold.” said Paul Tudor Jones, a major hedge fund manager.
Past statistics show that cryptocurrencies generally performed well in October. They were able to recover after a poor performance in September. Bitcoin dropped sharply in September this year, falling almost below $40,000 after China banned bitcoin-related transactions.
The bitcoin strategy ETF, ProShares’ Bitcoin Futures, or BITO, the fund’s securities ticker, rose 4.2 percent to $41.94.
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Thursday, October 21, 2021