American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Bitcoin prices hit all-time high, soaring to nearly $69,000

by admin March 7, 2024
March 7, 2024
Bitcoin prices hit all-time high, soaring to nearly $69,000

The price of bitcoin hit an all-time high of about $68,800 Tuesday, surpassing the previous record reached in November 2021.

The cryptocurrency has gained approximately 50% in 2024, and has recovered more than 300% since hitting a post-pandemic low of about $16,500 in December 2022.

The latest rally is being fueled by hopes that the launch of bitcoin exchange-traded funds, or ETFs, will expand the pool of bitcoin buyers.

The Securities and Exchange Commission approved ETFs in January to make it easier for investors to gain exposure to the price movements of bitcoin as part of diversified portfolios without having to go through the sometimes-onerous process of owning the digital coins themselves.

The ETFs have collectively already attracted billions of dollars of investments.

The cryptocurrency world is also banking on a price rally coming after a technical event known as ‘halving’ occurs in April. That causes the rate of supply of new bitcoin to decline. So if demand remains unchanged or even grows, the price goes up.

Bitcoin remains highly controversial, and many mainstream investment experts and market regulators urge caution about investing in it. For instance, SEC Chair Gary Gensler said the agency’s ETF approvals were not an endorsement of bitcoin, calling it a “speculative, volatile asset.”

And in a blog post in January, executives at the financial giant Vanguard echoed that view, saying cryptocurrencies like bitcoin are ‘more of a speculation than an investment,’ which is why the company does not offer crypto products.

‘With equities, you own a share of a company that produces goods or services, and many also pay dividends,’ Vanguard said. ‘With bonds, you get a stream of interest payments. Commodities are real assets that meet consumption needs, have inflation-hedging properties, and can play a role in certain portfolios.’

‘While crypto has been classified as a commodity, it’s an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio.’

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Pro-Palestinian protesters accost AOC outside movie theater, demand she call Israel-Hamas war a ‘genocide’
next post
Target launches paid membership program as it chases new revenue streams

Related Posts

What CoreWeave IPO means for Goldman Sachs

March 31, 2025

Elon Musk presents Indian PM Modi with a...

February 14, 2025

China’s Hainan faces setback in its global retail...

January 3, 2025

Long ABT: riding bullish momentum with strong EMA...

December 23, 2024

How thousands of Americans got caught in fintech’s...

July 3, 2024

About 800,000 BetterHelp online therapy customers receive refund...

May 12, 2024

Europe markets: Aviva’s bid boosts Direct Line, while...

December 6, 2024

Golub Capital stock could benefit from HPS Investment...

October 25, 2024

The Body Shop shuts down U.S. operations, with...

March 13, 2024

Chipotle says restaurants will give bigger servings after...

July 29, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,022)
    • Investing (2,459)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved