Bitcoin reaches record high of $95,000. 5 things to know
1 month ago

Bitcoin reaches record high of $95,000. 5 things to know

India Today  

Bitcoin, the world’s largest cryptocurrency, hit a record high of $95,000 on Thursday before settling slightly lower at $94,750 as of 6:45 AM. The sharp rise has been driven by several major developments in the cryptocurrency space, including the introduction of options trading for BlackRock’s iShares Bitcoin Trust and speculation surrounding former US President Donald Trump’s social media company exploring a deal to acquire crypto trading firm Bakkt. Introduction of options trading The debut of options trading for BlackRock’s iShares Bitcoin Trust ETF on the Nasdaq has boosted market sentiment. Sumit Gupta, Co-founder of CoinDCX, said, “The introduction of options trading for BlackRock’s iShares Bitcoin Trust marks a turning point in Bitcoin's journey. It highlights growing institutional interest and provides investors with more ways to gain exposure to the asset.” Institutional inflows post Trump’s election victory Since Trump’s election victory, US spot Bitcoin exchange-traded products have attracted approximately $4.2 billion in inflows.

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