Bitcoin Bounces To An All-Time High
March 5, 2024 1:31PM CST
FILE - An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong, on Feb. 17, 2022. Bitcoin briefly hit an all-time high Tuesday, March 5, 2024, with the world's largest cryptocurrency surpassing $68,800, according to CoinMarketCap. (AP Photo/Kin Cheung, File)
NEW YORK (AP) — Bitcoin has hit an all-time high less than two years after the collapse of the crypto exchange FTX severely damaged faith in digital currencies and sent prices plunging.
The world’s largest cryptocurrency jumped 4% this week and briefly surpassed $68,800 Tuesday, according to CoinMarketCap.
That’s just above bitcoin’s previous record set back in November 2021.
Gains in recent months have been fueled by the anticipation and eventual U.S. approval of bitcoin exchange traded funds earlier this year, which provided access to a much broader class of investors.
The price for bitcoin has surged about 60% since the approval of bitcoin ETFs in January.
