Bitcoin soared to a new high of 72,000, and cryptocurrency has attracted more than 320 billion yuan this year, close to 10.6 billion U.S. dollars for the whole of 2021 (Reuters file photo)
Gao Jiajing/Copy Editor
[Financial Channel/Comprehensive Report]Bitcoin exceeded US$72,000 for the first time on Monday, and continued to rise on Tuesday, reaching US$72,317 (approximately 24.3279 million yuan), setting a new high, up 6.2%, James Butterfill, research director of CoinShares International, pointed out, About US$10.3 billion (approximately NT$324.5 billion) has flowed into crypto assets so far this year, close to the US$10.6 billion (approximately NT$333.9 billion) inflows for the whole of 2021. In that year, Bitcoin hit nearly 69,000 The dollar’s last record high.
Foreign media reported that as Bitcoin soars and frequently reaches new highs, investors are rushing in. According to data from cryptocurrency research company CoinShares International, US$2.7 billion in funds flowed into crypto assets last week, setting a new record. Most of the funds went to Bitcoin.
With the price of Bitcoin reaching US$72,000, the total market value has exceeded US$1.4 trillion (approximately NT$44.1 trillion), surpassing silver to become the eighth largest asset in the world by market value.
Capital flows into cryptocurrencies have been driven by a series of good news, including the U.S. Securities and Exchange Commission’s (SEC) approval of a spot Bitcoin ETF in January and the upcoming “halving” event in April.
James Butterfill, director of research at CoinShares International, pointed out that about $10.3 billion has flowed into crypto assets so far this year, close to the $10.6 billion in capital inflows for all of 2021. In that year, Bitcoin hit a previous record high of nearly $69,000. point.
Spot Bitcoin ETFs launched by the likes of BlackRock and Fidelity Investments attracted the bulk of inflows into the crypto asset in 2024 and helped offset Grayscale Investments’ Bitcoin ETF’s huge inflow from the trust since January. outflow.
Still, as Bitcoin continues to hit new highs, some investors appear to be hedging against its downside. James Butterfill said that despite the rise in Bitcoin prices, funds shorting Bitcoin continue to increase. He pointed out that an additional US$11 million (approximately NT$346 million) in Bitcoin short positions were added last week.
To grasp the pulse of the economy with one hand, I subscribe to the Free Finance Youtube channel
No need to draw, no need to grab. Now use the APP to watch the news and you are guaranteed to win every day. Click me to download the APP. Click me to see the event instructions.
Already added as a friend, thank you
.jpg?fit=300%2C300&ssl=1)
