Bitcoin price surpasses $53,000, highest since December 2021

Bitcoin price surpasses $53,000, highest since December 2021

The price of Bitcoin exceeded $53,000, the highest price in more than two years. This has been fueled by growing optimism that continued investor demand through bitcoin-based spot investment funds will push the price of the largest cryptocurrency back to record levels, Bloomberg noted .

“Bitcoin continues its growth, supported by strong inflows of spot investment funds,” said Spencer Hallarn, head of global OTC trading at crypto investment firm GSR.  

Bitcoin rose 3.3% on the day to $53,600. It last traded at this price in December 2021 and reached an all-time high of around $59,000 about a month before that.

Investors poured more than $5 billion into nine spot mutual funds that began trading last month. MicroStrategy Inc.’s $155.4 million purchase of 3,000 bitcoins also gave investors optimism. by a software company that has made the acquisition of Bitcoin part of its corporate strategy. The company announced the acquisition, which was completed in February, on Monday. It now has about $10 billion worth of Bitcoin.

Let’s remind that on February 12, the price of Bitcoin actively increased and reached the threshold of $50,000, actually increasing by 3.5% in one day. Later, of course, the exchange rate was adjusted slightly, dropping to 49,800.