Euronews caught up with Yves Holenstein from Bitcoin Suisse AG to learn how the largest cryptocurrency is about to be part of our day-to-day lives in the next few years.
Credit: euronews (in English) Duration: 06:22Published
Bitcoin Rallies, on Hopes of Renewed Interest , Among Mainstream Investors.
On March 4, the price of Bitcoin broke $65,000,
bringing it closer to returning to an all-time
high reached in November 2021.
NBC reports that the latest rally has been driven
by hopes that the launch of bitcoin exchange-
traded funds will expand bitcoin's pool of buyers. .
In 2024, the cryptocurrency has
gained over 48%, rapidly approaching its
record intra-day all-time high of over $68,000.
In January, Bitcoin ETFs were first approved by
the Securities and Exchange Commission (SEC). .
The SEC said the approval of the ETFs were meant
to make it easier for investors to gain exposure to
Bitcoin without having to actually own the digital coins.
NBC reports that the world of crypto is also banking
on a potential rally following a technical event
known as "halving" scheduled to occur in April.
This event will see the rate of supply for new bitcoin
to decline, which could cause the value of the
cryptocurrency to increase if demand remains unchanged.
Some mainstream investment experts have
still urged caution when it comes to investing
in the controversial cryptocurrency.
With equities, you own a share
of a company that produces goods
or services, and many also pay
dividends. With bonds, you get
a stream of interest payments, Vanguard statement, via NBC.
Commodities are real assets that meet
consumption needs, have inflation-
hedging properties, and can play
a role in certain portfolios, Vanguard statement, via NBC.
While crypto has been classified
as a commodity, it’s an immature
asset class that has little history,
no inherent economic value,
no cash flow, and can create
havoc within a portfolio, Vanguard statement, via NBC
Credit: Wibbitz Top Stories Duration: 01:32Published
Bitcoin , Tops $63,000.
On Feb. 29, bitcoin advanced more than
5% to $63,252.82, CNBC reports.
The day before, the cryptocurrency reached $64,000 and then dropped back to $60,000.
For the month of February,
bitcoin is currently up 47%.
The figure represents a
sixth consecutive month of gains.
The last time that the currency had a similar showing was in December 2020, at which time it rose 49.5%.
On Feb. 28, bitcoin ETFs had "a record
$677 million in daily net inflows," CNBC reports. .
We’ve seen over $2 billion coming into
the various bitcoin ETFs so there’s been this
need to access more supply of bitcoin to build
these ETFs and that ends up driving prices
up particularly in the near term. , Sylvia Jablonski, CEO and chief investment officer
at Defiance ETFs, via CNBC.
The second reason why you might
be getting some extra momentum
in the price over the last couple
of days is the upcoming halving, Sylvia Jablonski, CEO and chief investment officer
at Defiance ETFs, via CNBC.
Historically the halving has led to bitcoin
prices increasing … past performance is not
indicative of future performance, but I do think
there’s this belief that the halving process will
result in the same level of price appreciation, Sylvia Jablonski, CEO and chief investment officer
at Defiance ETFs, via CNBC.
Bitcoin's next "halving" is
scheduled for this April
Credit: Wibbitz Top Stories Duration: 01:30Published
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