Bitcoin Exceeded 12 Thousand Dollars!

Bitcoin Exceeded 12 Thousand Dollars!

Bitcoin exceeded the $ 12,000 level. The leading cryptocurrency Bitcoin (BTC) has reached a 13-month high. Bitcoin (BTC) hit a level it hadn't seen in 13 months on Monday and nearly tripled its value since March. Purchases in stock markets due to risk appetite accelerated Bitcoin's rise. The leading cryptocurrency, Bitcoin (BTC), rose 5.3 percent and reached the level of $ 12,473. This level means the highest level Bitcoin has seen since July 2019. With an increase of more than 70 percent this year, digital gold has become one of the most valuable assets thanks to its performance. On the other hand, the decline in interest rates and the major bond purchase programs of all central banks around the world led investors to Bitcoin. Some investors have opted for Bitcoin as a defense against inflation due to limited supply, which has fueled interest in cryptocurrency. Commenting on Bitcoin, METACO's vice president of sales and business development, Seamus Donoghue, said:

“Inflation is low in the current period, but real interest rates are generally negative. Negative real interest rates and monetary incentives and spending led investors to investment instruments such as gold to hedge inflation. Given the limited supply and increased institutional acceptance, Bitcoin will likely benefit from the demand from those wishing to hedge inflation. ''