1. Bitcoin: The main reasons for Bitcoin surpassing $63,000 include increasing interest from international institutions, limited supply, and high demand. Particularly, as fiat currencies like the US Dollar face inflation, people are turning towards cryptocurrencies as a hedge against it.
2. Ethereum: Ethereum crossing $2,600 is primarily driven by its advanced technology and the growing use of decentralized applications (dApps). Additionally, the Ethereum 2.0 upgrade, which aims to make the network more efficient and environmentally friendly, has sparked investor interest.
Major Institutional Investors:
MicroStrategy: This company has made significant investments in Bitcoin and continues to purchase it actively.
Tesla: Led by Elon Musk, Tesla has invested in Bitcoin and holds it on its balance sheet.
Grayscale: Grayscale has established Bitcoin and Ethereum trusts, offering a reliable investment option for institutional investors.
Are These Institutions Trustworthy?
These institutions are highly trustworthy as they have maintained transparency regarding their financial status and have influenced the market through their investment decisions. Their presence in the stock market and clear financial disclosures add to the trust in their investments.
Political Influence:
There may be some political factors behind the sudden price surge of these coins. For instance, changes in monetary policies by various governments, banking sector crises, and financial decisions in the US have encouraged people to turn to alternative investments like Bitcoin. $BTC $ETH
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