Bitcoin swells to historic record level of $66,473

Business World

ISLAMABAD (Eshfak Mughal):- The digital currency Bitcoin has touched the highest level of $66,473 on Wednesday after the first US bitcoin futures-based exchange-traded fund (ETF) began trading.

The world’s leading cryptocurrency was last at $63,998, off 0.4 per cent, but still within a short jump of its record of $64,895.22, hit on April 14 this year.

On yesterday, he cryptocurrency was being traded at $64102 at end of the day. The journey of climbing of the Bitcoin was continued today and it reached at $66473. The cryptocurrency was swelled by $1578 in one day.

During the last 7 days, Bitcoin jumped about 20%, gaining US$ 10 thousand in value, and now it is operating with an appreciation of more than 4.5% in the accumulated 24 hours, quoted at US$66,944 in one session. With that, Bitcoin now accumulates 123% in 2021.

The increase is widespread and among the 20 largest cryptos in the world in market value, only two, Shiba Inu ( SHIB ) and Algorand (ALGO) do not register gains. As a result, the total capitalization of the cryptocurrency market rises to $2.56 trillion.

Indeed, the new fund, traded on the New York Stock Exchange under the ticker $BITO, garnered a first-day trading volume of more than $1 billion, ranking it among the most successful launches of all time.

In the coming weeks, several more bitcoin futures-based ETFs may debut in the U.S., opening up the potential for savvy U.S. crypto investors to partake in what is known as a “cash and carry” arbitrage strategy

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