The price of the cryptocurrency bitcoin reached a two-year high, exceeding $57 thousand in trading in Asia on Tuesday. This was the result of signs of intense institutional buying. At the same time, the price of the Ether cryptocurrency exceeded $3200 for the first time in two years.
The value of Bitcoin has increased by more than 10% in two sessions. This was facilitated by the disclosure that MicroStrategy, a software development company and part-time crypto investor, recently purchased about 3,000 bitcoins worth $155 million.
The world’s largest cryptocurrency by market value has recently received a boost from the approval of bitcoin exchange-traded funds (ETFs) in the United States. On Monday, trading volumes in several funds rose sharply, and cryptocurrency-related companies also gained, in contrast to more nervous markets.
At the time of writing, the price of Bitcoin has slightly decreased to around $56 thousand.
Source: reuters