The price of Bitcoin rose above $ 60,000, to close to record levels over the weekend, breaking a narrow range it was confined to for two weeks, supported by talk of a new supply contraction in light of signs of wider use.
The largest and most famous cryptocurrency in the world recorded 61,222.22 dollars on Saturday, the highest level in about a month. And it decreased slightly to 59,907 dollars at 05:00 GMT today, Sunday.
The currency crossed the 60,000 level for the first time on March 13, reaching a record level of $ 61,781.83 on the Pitstump Stock Exchange, immediately after US President Joe Biden signed a $ 1.9 trillion fiscal stimulus package.
Bitcoin’s big gains this year come amid wider acceptance of the digital currency as an investment and payment tool, in conjunction with an increasing demand by individual investors to inject liquidity into stocks, index funds and other high-risk assets.
The currency also rose thanks to the support of cryptocurrencies from major companies such as “New York Mellon Bank” and “Black Rock” asset management and credit card giant “MasterCard”, while companies such as “Tesla”, “Square Inc” and “Micro Strategy” began investing In which.