Bitcoin price briefly tops $69,000 for new all-time high
Hindustan TimesBitcoin surged to a record for the first time in more than two years, yet the original cryptocurrency didn’t stay at its new all-time high very long as many traders appear to have taken the opportunity to book some profit. The net inflow of almost $8 billion in less than two months is colliding with a looming reduction in Bitcoin’s supply growth — known as the halving — that is also stoking bullish sentiment. The bear market exposed widespread fraud and reckless risk-taking among many of crypto’s key players, embodied by the implosion of the TerraUSD stablecoin and the collapse of Bankman-Fried’s FTX exchange and related companies. BlackRock’s Impact But just as crypto skeptics from JPMorgan Chase & Co.’s Jamie Dimon to Berkshire Hathaway Inc.’s Charlie Munger derided Bitcoin as an intrinsically worthless object of mindless speculation, one of the world’s largest financial companies was about to add fuel to its rebound. “The Bitcoin all-time high marks a turning point for crypto,” said Nathan McCauley, CEO and co-founder of Anchorage Digital.