Getting Closer to All-Time High Price, Bitcoin Breaks USD 60,000

Liputan6.com, Jakarta – The price of Bitcoin managed to reach USD 60,000 or the equivalent of IDR 942.8 million (assuming an exchange rate of IDR 15,713 per US dollar). Bitcoin prices began to increase since the beginning of the week, reaching USD 54,000, then USD 57,000, until finally touching USD 60,000.

Based on monitoring Liputan6.com on the site Coinmarketcap, Wednesday (28/2/2024) at 20.30 WIB, the price of Bitcoin reached USD 60,393 or the equivalent of IDR 948.9 million. Bitcoin prices rose 6.02 percent in the last 24 hours and 18.31 percent in the week. Meanwhile, Bitcoin's market capitalization reached IDR 18,668 trillion, an increase of 6.32 percent in the last 24 hours.

The current price is approaching Bitcoin's all-time high in the range of USD 69,000 or around IDR 1 billion which was achieved in 2021.

Tokocrypto trader, Fyqieh Fachrur previously explained that there were several catalysts that triggered an increase in Bitcoin prices. The strong indication of this increase was caused by increased demand, as well as a surge in Bitcoin (BTC) ETF transactions which reached USD 2.4 billion or the equivalent of IDR 37.5 trillion.

“With high investor interest, asset management such as Blackrock's Ishares and others need additional Bitcoin,” said Fyqieh when contacted Liputan6.comWednesday (28/2/2024).

Fyqieh added that another sentiment was the news that Microstrategy's additional Bitcoin purchase of 3,000 BTC also had the potential to increase the price.

With this latest acquisition, MicroStrategy's total Bitcoin holdings now stand at 193,000 Bitcoins, acquired at an average price of USD 31,544 or the equivalent of IDR 493.7 million, for a total of around USD 6.09 billion or the equivalent of IDR 95.3 trillion.

Apart from that, according to Fyqieh, the number of financial institutions and large companies that have begun to adopt Bitcoin as a reserve asset or as a payment method has also increased trust and interest in Bitcoin.

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