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Bitcoin Hits A New All-time High, Surpassing The $66,000 Barrier

Bitcoin Hits A New All-time High, Surpassing The $66,000 Barrier

The US's first Bitcoin futures ETF "ProShares Bitcoin Strategy ETF" (BITO.US) was officially listed on the U.S. stock market on October 19, symbolizing the integration of cryptocurrency into the traditional financial system. Investors' confidence boosted, which drove the price of Bitcoin to rise above the $66,000 barrier on the 20th and hit a record high. CNBC, The Wall Street Journal and other foreign media reported that according to CoinDesk's quotation, the price of Bitcoin on the 20th rose to $66,974.77, surpassing the previous high of $64,889 set in mid-April. Like other emerging assets, the price of Bitcoin is like a roller coaster. The price was less than US$12,000 a year ago. In January this year, it broke through the US$30,000 range, soared to over US$64,000 in April, and then fell to US$29,600 in July. The price was almost cut in half. The main reason for the upward trend on October 20 was that the US Securities and Exchange Commission (SEC) finally nodded its approval, giving the United States the birth of the first Bitcoin futures ETF "BITO". BITO was listed for trading on the 19th, and its stock price rose 4.85% on the first day. The trading volume on that day reached approximately 881 million shares, making it the ETF with the second highest trading volume on the first day in the history of U.S. stocks.


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