Bitcoin’s fortunes are getting better as it is expected to keep rising after reaching a record-high $52,749. AFP PHOTOBitcoin's price has soared by more than 20 percent this month and more than tripled since January last year. Bankruptcies of several sector giants, especially the cryptocurrency exchange platform FTX, previously undermined investor confidence and caused Bitcoin's price to collapse over a year ago. Prior to this, and anxious to recover their stake when Bitcoin's price dropped, some investors made massive withdrawals from the Grayscale Bitcoin Trust EFT, which had accumulated more than $28 billion in assets. Bitcoin's creator Satoshi Nakamoto has limited the maximum number of bitcoins to 21 million.

Source: Manila Times February 17, 2024 04:15 UTC