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  Technology   In Other news  25 Jul 2018  Bitcoin surges past USD 8,000 to hit two month high

Bitcoin surges past USD 8,000 to hit two month high

REUTERS
Published : Jul 25, 2018, 7:28 am IST
Updated : Jul 25, 2018, 9:23 am IST

Bitcoin rose to at high as $8,130 on the Luxembourg-based Bitstamp exchange, its highest since May 22.

After peaking at close to $20,000 in December, bitcoin has lost more than half its value in 2018. (Photo: Pixabay)
 After peaking at close to $20,000 in December, bitcoin has lost more than half its value in 2018. (Photo: Pixabay)

Bitcoin, the world’s best-known cryptocurrency, shot past $8,000 on Tuesday for the first time in two months on signs of growing institutional interest in virtual coins.

Recent reports about impending approval in the United States for a cryptocurrency exchange traded fund (ETF) have helped bolster demand recently, as have comments exchange-traded fund, ETF, by BlackRock’s Chief Executive Larry Fink last week that the world’s biggest investment firm was looking at cryptocurrencies.

Bitcoin rose to at high as $8,130 on the Luxembourg-based Bitstamp exchange, its highest since May 22. The prices of other digital currencies also edged higher but most remain lower than a week ago, according to Coinmarketcap.com.

After peaking at close to $20,000 in December, bitcoin has lost more than half its value in 2018 as institutional and retail interest has declined.

(Source)

Tags: bitcoin