The king of cryptocurrencies finally comes back to the top with a new historic high, reached the October 19, 2021. This event coincides with the entry of l’ETF ProShares Bitcoin Strategy on the New York Stock Exchange. Recall that after a tweet from Elon Musk on May 13, the price of Bitcoin (BTC) had dropped drastically.
Bitcoin is healthier than ever. His new ATH (all time high) amounts to 67 016,50 dollars exactly. As a reminder, its previous record is $ 64,895.22, reached last April. At the time of this writing, the oldest crypto is trading around 66 000 dollars.
Bitcoin pushed by massive buys and a new ETF
Bitcoin had plunged to around $ 28,000 over the summer. However, this drop in performance did not stop cryptocurrency enthusiasts frombuy the dip. Indeed, bitcoiners believed that the price would inevitably rebound sooner or later. This is the first reason that gave Satoshi Nakamoto’s crypto wings again.
Ensuite, l’ETF ProShares Bitcoin Strategy has been listed on the New York Stock Exchange since October 19, under the ticker “BITO”. This fund will allow investors to bet on the future of bitcoin without owning the cryptocurrency itself. This is a first in the history of Bitcoin.
“We will remember 2021 for this important step. (…) Convenient access to bitcoin in packaging that has market integrity. “
Michael Sapir, CEO of ProShares
Doubts about Bitcoin persist
According to investor Peter Thiel, the surge in prices is a sign that the United States is collapsing. The gain in notoriety of cryptocurrencies would be a sign of the death of the American political and financial system.
“I don’t know if you should be putting all your money into $ 60,000 bitcoin (…) right now. (…) Corn [c’est] an extremely hopeful sign. (…) It’s the most honest market we have in the country, and he tells us that this decrepit regime… is about to explode. “
Peter Thiel
Now that BITO has paved the way for Bitcoin ETFs, the investment firm VanEck is about to have thesec approval for its own fund. The American financial regulator is definitely up against the wall now. He will have to rule on the fate of the many exchange-traded funds, the demands of which are piling up on his desk.
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I am a technology author with 8 years of experience in journalism. My writing covers the latest technology advancements and trends, drawing on my expertise in news journalism and social media platforms. I have contributed to major media outlets such as The New York Times, The Wall Street Journal, and Reuters.
