The transaction value of bitcoin, the most widely used cryptocurrency, soared Tuesday due to investors’ fears of inflation and surpassed $63,000, reaching an unprecedented value close to 64,000.
Data from the Bloomberg agency show that this virtual currency reached 63 728 dollars, its new all-time high, although it then fell to 63 100 dollars.
IG’s Diego Morín links the rise in cryptocurrencies to the monetary policy of central banks and, more cyclically, to the upcoming stock market entry of cryptoactive investment platform Coinbase, which debuts on Wednesday on Nasdaq.
“The continued injections of liquidity by central banks, as well as the stimulus programme of Joe Biden’s administration, cause investors to shift to other assets of interest,” he said.
Raúl López, head in Spain of cryptocurrency provider Coinmotion, also pointed to Coinbase’s going public and the growing interest from corporate and institutional investors.
“Confidence in the cryptocurrency market has intensified in recent weeks, with news that Visa and Paypal would accept payments with cryptocurrencies,” López recalled.
In the specific case of ether, the head of Coinmotion also points out the update of the Ethereum network planned for this Wednesday.
