Bitcoin breaks historic record with a new ath surpassing the previous record of $58K by two thousand dollars
Saturday dawned happier for those who have Bitcoins in their wallets. After a bitter February, the world’s top cryptocurrency broke its own record, reaching $60,000 around 9am.
Since the previous record, bitcoin has retreated to as low as $45,000, due to uncertainty in traditional markets about stimulus expectations and their positive effects on U.S. bond yields.
This new rise made Bitcoin surpass the previous record of US$58,000 by two thousand dollars. The rise in interest of financial institutions in crypto this week has made Bitcoin’s value remain at higher levels.
Even with the speech of Bill Gates warning about the environmental impact of transactions and maintenance of the bitcoin network was not enough to increase the appetite of investors. By noon, Bitcoin was worth $ 59,848.19, one of the highest levels in the history of cryptocurrency.
Bitcoin is also benefiting from the improved economic environment in the United States. With the fall in financial risks, investors have been looking for higher-risk assets, including cryptocurrencies.
U.S. Treasury yields have risen back to 12-month highs in the wake of Biden’s new stimulus. This time, however, bitcoin is showing resilience – unlike the last week of February, when prices fell 20% amid rising yields.
So far, BTC earned more than 20% just this week.