Bitcoin has broken the record of 2021. The most widespread cryptocurrency in the world is being exchanged for almost 72 thousand dollars. Compared to the same time period a year ago, the value of Bitcoin has increased by over $48,000.

“The ETF (Exchange-Traded Fund) plays a key role here. It was said that last year you could also buy with Bitcoin on the stock exchange. The US also accepts that securities can be bought with ETFs, i.e. cryptocurrencies, so there is this increase,” said Shahin Dokuzi, an expert on the digital currency market.

When it was created in 2009, Bitcoin was worth only 1 cent. In over a decade, the cryptocurrency has had several peaks, especially in 2019 and 2021, when it was worth 11,800, and then almost 67,000 dollars. The price crisis and the increase in interest rates significantly devalued Bitcoin, especially at the end of last year, to return to the rapid growth at the beginning of this year.

“One of the factors is related to the financial institution in this market, BlackRock. This market is heavily influenced by the psychological effect. When a large company makes a purchase, this increases the credibility of the investor and therefore of the cryptocurrency”, continues Dokuzi.

Along with Bitcoin, the value of other cryptocurrencies has also increased. Data from Coin Market Cap shows that Ethereum is being traded for more than $4,000, while Binance and Solana are trading for $526.

“When Bitcoin goes up, so do other cryptos. Bitcoin leads the market, so do other cryptocurrencies,” added Dokuzi.

The increase in the value of Bitcoin is also good news for Albanians who have investment portfolios in this cryptocurrency. In Albania, there are estimated to be up to 50,000 such portfolios, mainly in Boitcon, whose value is around 90 million dollars.

👁️[WPPV-TOTAL-VIEWS]