So what is driving this revival in bitcoin . Erin delmore reports. Its been more than two years since we have seen Bitcoin Cross the 60,000 mark, but the cryptocurrency did just that on wednesday, even soaring to 64,000. It may be closing in on its all time high of 68,000. There are a few reasons why crypto enthusiasts are fired up About Bitcoin these days, newly approved Spot Bitcoin Exchange traded funds have investors buzzing and there is a change coming up in april when bitcoin miners start getting less bitcoin for their efforts and the spectre of lesser supply fuels more demand. 0ne lesser supply fuels more demand. One more thing than any background here, the Federal Reserve is expected to cut Interest Rates this year, that stokes investors because interest in alternative investments like cryptocurrencies. But its not all smooth sailing, some uses of queen based global, the largest trip to exchange in the us unexpectedly saw their balances drop down to zero among the bitcoin buzz
on stock exchanges. the approval of the bitcoin exchange traded funds, or etfs, is seen by supporters as a watershed for crypto, giving it financial respectability and mainstream acceptance on wall street, after a string of controversies. erin delmore reports from new york. this decision was years in the making and now it will allow people and institutions to invest in bitcoin almost as easily as they buy stocks. the move could increase demand for bitcoin and legitimacy for the crypto currency industry, which has weathered scandal and scepticism. sec chair did not shy away from that in a statement saying, while we approve the listing and trading of certain ept spot bitcoin shares today, we did not approve or endorse bitcoin. he said investors should remain caution about the risks associated with bitcoin and said the crypto currency is, primarily a speculative volatile asset. while investors and crypto watchers awaited the decision, a false tweet was posted on the sec official
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