Bitcoin has surpassed $ 66,000 and set a new record

Bitcoin has surpassed $ 66,000 and set a new record

Bitcoin set a new record on October 20 as investors expressed their delight at the successful launch of the first Bitcoin futures ETF.

The world’s largest digital currency rose almost 6% to $ 66,066 on October 20 (Vietnam time), beating the previous record of $ 64,899.

Optimistic comments from legendary trader Paul Tudor Jones also helped lift sentiment. Paul Tudor Jones calls cryptocurrencies better inflation protection than gold.

“Bitcoin will be a great hedge,” Mr. Jones said on October 20th. “Cryptocurrency clearly wins the race against gold. I think this is a very good hedge against inflation. I also currently prefer cryptocurrencies over gold. “

On October 19, Proshares Bitcoin Strategy ETF – the first Bitcoin futures-based ETF in the US – began trading under the ticker BITO. On its first day of trading, the fund certificate rose 4.9% to USD 41.94. More than 24 million BITO fund certificates changed hands on October 19, according to Bloomberg.

With a trading value of almost USD 1 billion, according to statistics from Athanasios Psarofagis, BITO is the second most heavily traded fund certificate after the BlackRock fund. This information also led to a sharp rise in the price of Bitcoin.

“From discussions with market participants, it appears that the upward momentum is related to confidence in the cryptocurrency market as the first Bitcoin ETF has a successful public offering,” said Stephane Ouellet, General Manager at FRNT Financial.

Vu Hao (according to CNBC)