PANews reported on May 21 that according to Cointelegraph, with a 7% increase on the day, Bitcoin hit a record high in several countries in Asia and South America. The price of Bitcoin reached an intraday and six-week high of $71,650 on May 21, with an increase of more than 7% in the past 24 hours. According to Coingecko data, the asset has recovered to within 3.4% of its all-time high of $73,738 set on March 14.

However, the big move pushed Bitcoin to new peaks against several other fiat currencies as well. In Japan, Bitcoin hit an all-time high of 11.2 million yen in early trading on May 21, according to CoinMarketCap. This is the first time the asset has been worth more than 11 million yen. The yen has depreciated against the dollar in recent months, losing 10% against the greenback since the beginning of the year. Bitcoin also peaked in Argentina on May 21, with the asset hitting 63.8 million Argentine pesos, slightly above its peak in mid-March. The South American country has been struggling with inflation of up to 290% and currency depreciation over the past few years.

Other countries where bitcoin prices are at or very close to their mid-March peak prices include the United Kingdom, Australia, Canada, Chile, Colombia, Egypt, Israel, Norway, India, South Korea and Turkey, industry watcher Thomas Fahrer noted on X.