Bitcoin (BTC) has achieved a new milestone by reaching an all-time high above $69,200 on March 5, following a 5% increase in the past 24 hours.
This notable achievement marks a significant rally for the world’s first cryptocurrency, which has seen over 21% growth in the past week alone, breaking past the previous all-time high of $68,990 recorded on the Coinbase exchange on November 10, 2021.
According to a research report from February 26 by senior Bloomberg analyst Eric Balchunas and associate analyst Andre Yapp, Bitcoin ETFs are projected to potentially overtake gold ETFs in assets under management (AUM) within the next two years. This optimistic outlook highlights the growing investor confidence in Bitcoin and the transformative impact of ETFs on cryptocurrency investment dynamics.
The adoption of spot Bitcoin ETFs in the U.S. and the subsequent rally in Bitcoin’s price underscore the cryptocurrency’s increasing acceptance among mainstream investors and its growing prominence in the global financial landscape.
