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Bitcoin Races to All-time Peak Close to $72,000


LAHORE MIRROR (AFP) — Bitcoin raced to an all-time peak close to $72,000 on Monday as the world’s most popular cryptocurrency won further support on greater trading accessibility and dollar weakness.

The virtual unit struck $71,829 as dealers also eyed an upcoming industry event that will tighten bitcoin supplies.

Monday’s spurt extended last week’s record-breaking run when the currency bulldozed its way past the previous November 2021 pinnacle of $68,991.

Bitcoin won further support on Monday after Britain’s Financial Conduct Authority watchdog said it would join US regulators by allowing the creation of crypto-related securities.

US authorities earlier this year gave the green light to exchange-traded funds (ETFs) pegged to bitcoin’s spot price, making it easier for mainstream investors to add the unit to their portfolio.