Bitcoin

Bitcoin climbs to almost all-time high prior to US crypto exchange listing

WHAT’S BEING CLAIMED:

  • Bitcoin’s value rose to a second all-time high at $61,229 on Monday.
  • Coinbase Global, a digital-token exchange, is set to include Bitcoin on its listing.
  • Several companies have started using cryptocurrencies in recent months.

Bitcoin reached an all-time high Monday just before it was about to be listed by the US’ biggest cryptocurrency exchange.

The crypto’s value climbed to over 2.6 percent, amounting to $61,229, which marked its highest level in almost a month. Versus last year, Bitcoin’s value is now nine times higher, surpassing mainstream assets like the stock market.

Digital-token exchange Coinbase Global is also boosting its interest as Wall Street starts to welcome the rise of cryptocurrencies.

On April 14, Coinbase is scheduled to go public on the Nasdaq, the first major cryptocurrency company to make a listing. This would also serve as an invitation to other investors to launch their own start-ups in the same industry.

Speaking with Bloomberg, crypto lending firm Nexo co-founder Antoni Tenchev said: “Coinbase listing on the Nasdaq is as bullish a signal as possible at this current stage.”

In recent months, several companies have begun investing in Bitcoin. Tesla invested over $1.5 billion worth of Bitcoin early this year as the company began accepting it as a mode of payment for customers who want to purchase their electric vehicles.

Goldman Sachs announced that it would offer its private rich clients Bitcoin investment and other digital cryptocurrencies. Morgan Stanley, on the other hand, is considering offering its wealthy clients three funds that would have crypto asset options as well.

Payment services Visa and Paypal have also started accepting cryptocurrencies as a mode of payment. 

So far, Bitcoin reached its highest peak at $61,742 on March 13.

Aside from Bitcoin, other digital coins such as Ether have also been steadily increasing in value. 

 

Source: New York Post

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