Bitcoin has set a historical record of value

The flagship cryptocurrency has reached an all-time high in value after a record week of investment inflows into cryptocurrency exchange products. Bitcoin reached $ 72,000, trading at $ 72,254 at the time of writing.

According to CoinShares analyst James Butterfill, cryptocurrency investment products generated a record $ 2.7 billion in inflows. So far, cryptocurrency ETPs (Exchange Traded Products) have generated $ 10.3 billion in investments, which is almost equal to the total investment of $ 10.6 billion that cryptocurrency ETPs received in all of 2021.

In just the last 30 days, bitcoin has risen in price by more than 50%, and its capitalization has exceeded $ 1.38 trillion. The cryptocurrency market as a whole also continues to grow rapidly. A significant growth factor is halving, which is expected in April. This is a planned event after which the issuance of new bitcoins is halved. The demand for BTC and a significant increase in its value are also fueled by a strong inflow of funds into US spot exchange-traded funds (ETFs) for bitcoin. The BlackRock fund already has almost 200,000 bitcoins under management, according to the fund’s official website. This is more than $ 14 billion in dollar terms.

Earlier, bitcoin updated the ATH, first at $ 69,129, then at $ 69,950, and yesterday at $ 71,700. The global market capitalization added 4.6% over the day and amounted to $ 2.85 trillion. The volume of cryptocurrency transactions over the past 24 hours increased to $ 198 billion.