According to Golden Finance, Bitcoin has jumped to $50,000 for the first time in more than two years, thanks to the record performance of Bitcoin ETFs listed in the United States. The value of the original cryptocurrency has tripled since the beginning of last year, recovering from a 64% plunge in 2022.
The latest rally in Bitcoin is being fueled by optimism that exchange-traded funds approved by the United States last month can hold Bitcoin directly, which is leading to more people accepting Bitcoin. Greg Moritz, co-founder of cryptocurrency hedge fund AltTab Capital, said the downturn in the past few weeks was largely due to outflows from Grayscale. Now that these outflows have slowed, we are seeing, as expected, net inflows picking up.
