Bitcoin Surges to All-Time Highs in Turkey and Nigeria
Massive inflation and sliding purchasing power of national fiat currencies has likely boosted demand for bitcoin.
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Massive inflation and sliding purchasing power of national fiat currencies has likely boosted demand for bitcoin.
BTC’s price hasn’t seen these lofty levels since May 2022, when the cryptocurrency industry was just starting to get pummeled by scandals.
Michael Saylor’s software company has invested billions of dollars into the world’s largest token by market capitalization. And the bet is slowly paying off.
Bitcoin forks led gains in the past 24 hours, outpacing major tokens.
Traders could be betting on a development that buoys hopes for a spot bitcoin ETF in the US.
The decision, reported by Reuters, boosts the odds that Grayscale Investments will be able to turn its Grayscale Bitcoin Trust (GBTC) into a more investor-friendly ETF.
The Fed on Wednesday is widely expected to hold rates steady, but investors will monitor new economic projections and Chairman Powell’s press conference for clues about the direction of future policy.
BTC price fell to $26,700 from $27,200 during Monday.
Broader crypto markets were modestly lower late on Wednesday.
With spot bitcoin ETF aspirations sidelined after the SEC yesterday pushed off decisions on a raft of new applications, crypto bulls are hoping an employment slowdown and lower interest rates could provide a positive catalyst.