Bitcoin scaled a two-year high on Monday, breaking $64 000, taking it within striking distance of record levels.
At the heart of the rally that is pushing bitcoin towards a record high is a simple tenet of economics.
Bitcoin hit a two-year high above $57 000 on Tuesday – and reached a record high in rand terms.
Local stock exchanges like the JSE could consider approving the first bitcoin spot ETFs in 2024.
Bitcoin’s 22% year-to-date gain has helped to lift the market capitalisation of digital assets above $2-trillion.
One bitcoin now costs R1-million, nearly equalling the record high price (in rand terms) set in 2021.
Bitcoin hit the $50 000 level for the first time in more than two years – and may have further to run.
Bitcoin is flirting with a winning run last seen a year ago, aided by the record-breaking debut of US ETFs.
Chinese bitcoin miners, having bounced from country to country in search of cheap power, have arrived in the Horn of Africa.
The amount of money deposited in decentralised finance or DeFi projects has leapt in recent months.