Since January, the value of bitcoin (BTC) has increased by 130%. In November 2023, BTC added more than 9%. It has outpaced tech stocks and gold in terms of returns, Bloomberg reports.
Analysts expect spot crypto fund ETFs investing in bitcoin to appear on the U.S. market. Even the lawsuit against FTX exchange founder Sam Benkman-Fried and the resignation of Changpeng Zhao as CEO of Binance did not break the positive mood among market participants.
BTC rose 2.35% to $38,586 on Friday. Ether (ETH) was trading at $2,097 at the time of publishing this review, while Binance Coin (BNB) approached $230. Solana (SOL) jumped more than 5% to $60.82.
Bitcoin could quickly reach $40,000 once a spot crypto fund ETF becomes available in the U.S., according to Fiona Sincotta, who heads the analytics division of City Index Ltd.
The day before it became known that MicroStrategy in November acquired BTC for $593 million. Thus, the company’s reserves in the largest digital currency increased to $6.5 billion.
Michael Saylor’s statement on the purchase of another batch of bitcoins provoked an inflow of capital into the cryptocurrency at the end of the current week.