• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Bitcoin prices hit all-time high, soaring to nearly $69,000
Editor's Pick

Bitcoin prices hit all-time high, soaring to nearly $69,000

by March 7, 2024
by March 7, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The price of bitcoin hit an all-time high of about $68,800 Tuesday, surpassing the previous record reached in November 2021.

The cryptocurrency has gained approximately 50% in 2024, and has recovered more than 300% since hitting a post-pandemic low of about $16,500 in December 2022.

The latest rally is being fueled by hopes that the launch of bitcoin exchange-traded funds, or ETFs, will expand the pool of bitcoin buyers.

The Securities and Exchange Commission approved ETFs in January to make it easier for investors to gain exposure to the price movements of bitcoin as part of diversified portfolios without having to go through the sometimes-onerous process of owning the digital coins themselves.

The ETFs have collectively already attracted billions of dollars of investments.

The cryptocurrency world is also banking on a price rally coming after a technical event known as ‘halving’ occurs in April. That causes the rate of supply of new bitcoin to decline. So if demand remains unchanged or even grows, the price goes up.

Bitcoin remains highly controversial, and many mainstream investment experts and market regulators urge caution about investing in it. For instance, SEC Chair Gary Gensler said the agency’s ETF approvals were not an endorsement of bitcoin, calling it a “speculative, volatile asset.”

And in a blog post in January, executives at the financial giant Vanguard echoed that view, saying cryptocurrencies like bitcoin are ‘more of a speculation than an investment,’ which is why the company does not offer crypto products.

‘With equities, you own a share of a company that produces goods or services, and many also pay dividends,’ Vanguard said. ‘With bonds, you get a stream of interest payments. Commodities are real assets that meet consumption needs, have inflation-hedging properties, and can play a role in certain portfolios.’

‘While crypto has been classified as a commodity, it’s an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio.’

This post appeared first on NBC NEWS
You Might Also Like
  • Biden blocks Japan’s Nippon Steel from $15 billion takeover of U.S. Steel
  • Costco cracks down on sharing membership cards
  • New home construction jumps, raising hopes for better housing market
  • Quectel Announces New Generation 5G Release 17 Module Series to Address Growing 5G FWA and eMBB Markets
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Bitcoin prices hit all-time high, soaring to nearly $69,000
next post
Target launches paid membership program as it chases new revenue streams

You may also like

Robinhood app says SEC dismissed crypto investigation in sign of...

February 24, 2025

Why companies are canceling summer Fridays

June 17, 2024

Warren Buffett gives away another $5.3 billion, says his children...

June 28, 2024

US consumer confidence hits 2-year high — but recession fears...

July 26, 2023

Intel CEO retires as chipmaker loses ground in AI revolution

December 3, 2024

Dollar General is shaking off tariff fears and winning over...

June 4, 2025

Customers from the East Coast to the Midwest could see...

March 27, 2024

On air, ’60 Minutes’ reporter says ‘none of us is...

April 28, 2025

Etsy restores payment processing for some sellers affected by Silicon...

March 16, 2023

Home prices may be on the verge of cooling off

September 2, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Want Faster, Lower Risk Trades? Use This Setup

      July 9, 2025
    • The Seasonality Trend Driving XLK and XLI to New Highs

      July 9, 2025
    • Small Caps Are Rotating In — Here’s Why It Matters

      July 9, 2025
    • Amazon extends Prime Day discounts to 4 days as retailers weigh tariffs and price increases

      July 9, 2025
    • Breakout Watch: One Stock in Each Sector to Watch Now

      July 9, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,630 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,576 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,167)
    • Investing (538)
    • Stock (2,660)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Want Faster, Lower Risk Trades? Use This Setup

      July 9, 2025
    • The Seasonality Trend Driving XLK and XLI to New Highs

      July 9, 2025
    • Small Caps Are Rotating In — Here’s Why It Matters

      July 9, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,167)
    • Investing (538)
    • Stock (2,660)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    UAW announces new strike locations as...

    September 26, 2023

    From tariffs to DOGE, what companies...

    February 18, 2025

    Overstock.com wins auction for Bed Bath...

    June 24, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here