The price of Bitcoin has reached a new record high, exceeding $71,000, during trading on Monday, with increased demand for the cryptocurrency amid optimism about the U.S. Federal Reserve's decision to possibly lower interest rates this year. The unit price hit $71,632, up 3.2 percent in Asian markets this afternoon, according to data from Bloomberg, marking an increase of approximately 70 percent this year. This rise has been bolstered by news that the UK Financial Conduct Authority announced it will allow the creation of securities linked to cryptocurrencies. This follows the U.S. authorities giving the green light this year for funds linked to the spot price of Bitcoin, encouraging several major investors to take the risk of adding units to their portfolios.
March 11, 2024 @ 09:21 AM (UTC)
Current Price of Bitcoin (BTC-USD): $71,577.00 (BTC-EUR): €65,417.80— Bitcoin (@Bitcoin) March 11, 2024
