Bitcoin (BTC) has reached a new all-time high against the euro, marking a significant milestone as the cryptocurrency’s price soared to over $65,000, a new multi-year high.
On March 4, Bitcoin surpassed the 60,000-euro mark for the first time in history, establishing a new psychological milestone in its valuation against the euro.
Trading data from TradingView indicated that Bitcoin touched 60,393 euros at 8:30 am UTC, experiencing a roughly 5% increase from its intraday low of 57,521 EUR. Currently, Bitcoin trades at 59,981 euros, reflecting a substantial 56% increase year-to-date.
Before this achievement, Bitcoin had already posted multiple milestones, breaking through the all-time high of around 53,000 euros set in late September 2021 for the first time on February 28.
In addition to the euro, Bitcoin has been setting new records against various fiat currencies throughout 2024, including the Chinese yuan (CNY), which holds the title for the world’s largest fiat currency by market capitalization. Bitcoin surpassed its previous all-time high against the CNY in late February, breaking past the prior record of approximately 414,000 CNY. As of now, BTC’s value stands at 467,506 CNY.
Balaji Srinivasan, an angel investor and former Coinbase CFO, noted that as of February 28, Bitcoin had surpassed all-time highs in over 30 countries, including major economies such as China, India, Japan, South Korea, and Argentina.
Bitcoin has passed all-time highs in 30+ countries, including China and India. pic.twitter.com/63CnC9DE0F
— Balaji (@balajis) February 28, 2024
Despite these achievements, Bitcoin has yet to set new records against a few key fiat currencies, such as the United States dollar, the Swiss franc, the Brazilian real, and the Mexican peso. Currently, Bitcoin is trading at $65,000, approximately 6% below its all-time high of $69,000 set on Coinbase in November 2021.
Sam Wouters, marketing head at River Intelligence, highlighted the Mexican peso as a notably ambitious target for Bitcoin, with the cryptocurrency trading at about 1.1 million pesos, down 24% from its high of roughly 1.4 million pesos in November 2021.
Bitcoin’s ascent to new all-time highs across multiple fiat currencies in 2024 coincides with the cryptocurrency gaining increased exposure following the launch of spot Bitcoin ETFs in the U.S. on January 11, 2024. Since the launch, Bitcoin ETF issuers have acquired at least 340,000 BTC, contributing to the cryptocurrency’s rising valuation and market presence.
