📉 Bitcoin (BTC) again surpassed the $63,000 mark, despite government sales of cryptocurrency and the bankruptcy of Mt. Gox. New investors and increased volatility in traditional markets have helped bolster confidence in BTC.

On July 1, the German government transferred 1,500 BTC to various crypto exchanges, and the American government transferred 1,184 BTC on June 30. These transactions fueled rumors of possible selling pressure as the US government holds $13.4 billion worth of BTC in its wallet.

Despite government sales of more than $300 million, the price of Bitcoin has shown resilience. This was bolstered by Bitcoin exchange-traded funds absorbing some of the supply, adding a net $137 million in four trading days from June 25 to 28.

Michael Dell, founder and CEO of Dell Technologies, caused a stir on June 21 by hinting at a possible investment in Bitcoin.

On July 1, Amber Japan, a division of Sony, renamed itself S.BLOX to focus on cryptocurrency trading.

The growing demand for Bitcoin also reflects investor dissatisfaction with the valuations of traditional market assets such as stocks and real estate.