By surpassing $63,000, bitcoin is approaching its November 2021 record and setting new records. It even reached 14th place in the world in terms of valuation.
Bitcoin: New champion of currencies?
Bitcoin ETFs, often considered potential competitors to gold ETFs, are contributing to this rise of bitcoin.
THE bitcoin, unstoppable phenomenon of financial markets, takes a new step in its quest for domination. This week, it surpasses the Russian ruble to become the 14th most important currency in the world in terms of market capitalization, according to CoinMarketCap data relayed by Watcher Guru.
This meteoric rise is the result of a massive increase due to a massive influx of Spot ETF funds. Indeed, bitcoin now transcends the simple cryptocurrency market to establish itself as a formidable competitor for a range of international currencies.
Long considered the predominant digital asset, bitcoin has never ceased to impress. The hopes placed in him at the start of 2024 now seem largely confirmed. THE BTC returns above $62,000a bar not reached since 2021, suggests a possible reconquest of its previous all-time high, set at $68,990.
By surpassing the Russian ruble, bitcoin now overlooks renowned global currencies such as the Mexican peso, Saudi king, Thai baht and UAE dirham. However, there are still a few steps to climbwith major competitors such as the Swiss franc, the Australian dollar, the new Taiwan dollar and the Brazilian real.
As the world holds its breath, all eyes turn to April and the long-awaited bitcoin halving event, the halving. This major milestone promises to significantly increase the overall value of bitcoin, propelling its price to new, unexplored heights.
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