Bitcoin hits fresh all-time high above US$ 66,000 after landmark U.S. ETF launch
Updated: 2021-10-21 09:58:50 KST
Bitcoin, the world's most largest cryptocurrency in terms of market capitalization, soared past 66-thousand U.S. dollars on Wednesday to set a new record high.
This marks a new record from Bitcoin's previous April peak of nearly 65-thousand dollars, making a full recovery after a months-long slump.
Watchers say this is closely in line with Tuesday's debut in the U.S. of the first Bitcoin-linked exchange-traded fund.
The ProShares Bitcoin Strategy ETF, which monitors Bitcoin futures contracts and speculates on the future prices of the cryptocurrency, rose almost five percent on its first day of trading.
Billionaire investor Paul Tudor Johns told CNBC on Wednesday that Bitcoin is a great hedge against inflation, adding that he prefers cryptocurrency over gold, but other investors remain critical, due mainly to Bitcoin's price volatility.
This was witnessed in June when Bitcoin plunged below 30-thousand dollars following a wave of criticism over the amount of energy consumed mining Bitcoin and China's crackdown on cryptocurrency.
However, many experts say Bitcoin's soaring value marks a clear win for the cryptocurrency as it and other digital assets steadily achieve more acceptance on Wall Street.
Kim Hyo-sun, Arirang News.