Bitcoin Price Hits Record Highs in Euros and Pounds – Here’s Where BTC Is Headed Next
The Bitcoin price just hit new record highs in euros and British pounds.
BTC/EUR crept above €60,000 during early Monday trade, before briefly surpassing €62,000 during US trading hours.
BTC/GBP, meanwhile, hit £53,000, convincingly surpassing its prior record peaks of around £51,000 in 2021.
In US dollar terms, Bitcoin surpassed $67,000 and is now within 3% of November 2021 record highs at $69,000.
Just four days into March, and Bitcoin is already up around 10%.
Following February’s 44% price pump and amid seemingly unstoppable ongoing bullish momentum, it almost now feels inevitable that the Bitcoin price will hit record highs in dollar terms this month.
Bitcoin’s price has gone parabolic this year in wake of the introduction of new spot Bitcoin ETFs in the US.
Without a doubt, the launch of spot Bitcoin ETFs has been the most hyped and most successful ETF launch ever.
As per ZeroHedge, BlackRock’s new spot Bitcoin ETF hit $10 billion in assets under management in seven weeks.
That makes it the fastest-growing ETF in history.
BlackRock’s iShares Bitcoin Trust has accumulated $10 BN in just seven weeks — the fastest an ETF has ever hit that milestone and a feat which the first gold ETF took more than two years to accomplish: BBG
— zerohedge (@zerohedge) March 3, 2024
By comparison, the first gold ETF took over two years to reach $10 billion.
BlackRock’s IBIT is also up over 30% since launch, with one trader pointing out it took the first gold ETF 63 weeks to post the same gains.
And that’s just BlackRock’s ETF.
Fidelity, Ark and half a dozen other firms also launches spot Bitcoin ETF in January.
And these spot ETFs have also hoovered up billions in BTC tokens.
This sudden new demand shock to the spot market comes at a time when Bitcoin
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