Bitcoin Surpasses $55,000 Mark for the First Time Since Late 2021
Singapore: Bitcoin has surged past the $55,000 mark, marking its first foray into this territory since late 2021. This upswing is fueled by investor demand, particularly through exchange-traded funds (ETFs), along with additional purchases by MicroStrategy Inc.
The largest digital asset experienced a 1% increase, reaching $55,112 as of 9:46 a.m. Tuesday in Singapore, following a more than 5% gain during the US session. Bitcoin's price has soared by 30% since the beginning of the year, continuing a sustained rally that has also fueled interest in smaller tokens like Ether and BNB. The introduction of landmark Bitcoin ETFs in the US on Jan. 11 has attracted a net inflow of $5.6 billion, indicating broader demand for the cryptocurrency beyond dedicated digital asset enthusiasts.
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