Digital currency - Bitcoin above 45,000 US dollars for the first time since April 2022
The digital currency Bitcoin rose above the USD 45,000 mark on Tuesday for the first time since April 2022. Most recently, one Bitcoin cost 45,200 US dollars (41,000 euros) on the Bitstamp trading platform, around seven percent more than before the long weekend.
The price is being driven by an eagerly awaited decision by the US Securities and Exchange Commission (SEC). The SEC is currently examining a new fund that would invest directly in Bitcoin. If the fund is approved, it would be the first spot ETF denominated in Bitcoin. Experts expect investor interest to increase significantly as a result. The US Securities and Exchange Commission has until January 10 to decide on the fund.
Speculation about such an approval has been driving the price of Bitcoin since mid-October. Since then, it has risen by around two thirds.
Market value of almost 890 billion dollars
The prospect of key interest rates from the US and eurozone central banks falling again soon also provided a tailwind. With the latest price surge, Bitcoin has regained a market value of almost 890 billion dollars.
Despite the recent price gains, Bitcoin is still a long way from its record high. This was set in November 2021 at just under 69,000 dollars.
Just over a year ago, Bitcoin had slipped below the USD 16,000 mark. At that time, turbulence on the crypto market in connection with the FTX crypto exchange triggered a price slump.
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The surge in Bitcoin's price has drawn attention from countries like China, where there's been increased cryptocurrency mining activity. In Frankfurt, Germany, the stock exchange supervision sec is closely monitoring the situation. Over in New York, analysts are closely watching the SEC's decision on the proposed Bitcoin ETF. The rise in Bitcoin's price has also sparked interest in digital currencies in Japan, with predictions of a potential shift towards online transactions using digital currencies. Despite Bitcoin's growth, it's still trading under its April 2021 high, which was denominated in US dollars. However, the overall market value of Bitcoin has surpassed 890 billion USD, making it a significant player in the global currency market.
Source: www.stern.de
