Bitcoin Hits Record High
Bitcoin reached an all-time high Wednesday, crossing the $66,000 threshold and blowing past the previous high of $64,889 in April.
Bitcoin is the most well-known and most-valuable cryptocurrency. Like the entire crypto market, it has had its ups and downs over the last few months. Threats of regulation, a ban in China and concerns over the environmental impact of mining have all taken a toll on the price.
As CoinDesk points out, the latest rally is likely being driven by “the launch of the ProShares Bitcoin Strategy ETF, the first exchange-traded fund approved by the U.S. Securities and Exchange Commission to invest in bitcoin futures.”
Now that Bitcoin has pushed past its previous high, it may have enough momentum to continue climbing.
