He bitcoin climbed up 6% this Tuesday 35 thousand 198 dollarsThis is the highest level in almost a year and a half, which is associated with growing speculation about the imminent approval of a cryptocurrency exchange-traded fund.
The day before, Bitcoin recorded its best day in almost a year, rising 10%, and optimism spread throughout the cryptocurrency market and its associated values.
The U.S. Securities and Exchange Commission’s (SEC) approval of an exchange-traded fund (ETF) that will hold Bitcoin on behalf of investors is expected to drive demand.
The spot Bitcoin ETF is said to allow investors previously wary of cryptocurrencies to gain exposure to the asset through the stock market, bringing a new wave of capital to the sector.
“The value of any asset is essentially the number of people who use it,” he said. Steen JacobsenChief Investment Officer of Saxo.
Thus, the ETF will have a larger audience and increase liquidity.
Bitcoin, a volatile asset whose price has doubled this year, rose 8.7% from its previous price to $34,282. The second-largest cryptocurrency ETH=BTSP rose 6.3% to $1,816.60, its highest level from August.
Stocks related to cryptocurrencies, such as stocks from an important American stock exchange. Coinbase Global COIN.O and owner of bitcoins MicroStrategy MSTR.Oalso increased.
(according to information from Reuters)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
