Bitcoin Passes $60,000, Approaches All-Time High

 

Bitcoin has now surpassed the $60,000 mark on Wednesday.

 

The flagship cryptocurrency is nearing its all-time high of $68,991.

 

At 1325 GMT, bitcoin traded at about $60,301, closing in on its all-time high of $68,991 — that was struck in November 2021 and which some analysts believe is now within reach.

 

Since their approval on January 10 by US securities regulators, exchange-traded funds (ETFs) indexed to bitcoin have theoretically enabled a wider public to invest in the cryptocurrency without having to hold it directly. The funds themselves, however, do invest in the digital currency.

 

The expected approval of the new investment product had contributed in recent months to a rise in its price, which had largely fallen by the end of 2022 following the bankruptcy of several crypto giants.