Bitcoin soared to $57 thousand, updating 2-year high

The price of the cryptocurrency bitcoin reached a two-year high, exceeding $57 thousand. at auction in Asia on Tuesday. This was the result of signs of intense institutional buying. At the same time, the price of the Ether cryptocurrency exceeded $3200 for the first time in 2 years.

Bitcoin’s value rose by more than 10% in two sessions. This was facilitated by the disclosure that the software development company and part-time crypto investor MicroStrategy recently acquired about 3,000 bitcoins for $155 million.

The largest cryptocurrency by market value has recently received support from the approval of exchange-traded funds (ETFs) holding bitcoin in the United States. On Monday, trading volumes in several funds rose sharply, and cryptocurrency-related companies also gained, in contrast to more nervous markets.

At the time of writing, the price of Bitcoin has slightly decreased to about $56 thousand.

Source itc
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