Bitcoin hits a new all-time high of $65,000 in euros.
For the first time ever, the value of bitcoin has surpassed 60,000 euros, setting a new record vs the euro.
With its price hitting a multi-year high of $65,000, Bitcoin BTC $65,145 has now surpassed a new all-time high versus the euro.
On March 4, Bitcoin achieved a historically unprecedented value of 60,000 euros, shattering a new psychological barrier in the process.
TradingView data indicates that around 8:30 am UTC, Bitcoin reached 60,393 euros, up almost 5% from its intraday low of 57,521 EUR. As of this writing, the price of Bitcoin is 59,981 euros, up almost 56% since the beginning of the year.
Bitcoin achieved a number of significant milestones before hitting the 60,000 euro price point. The all-time high of around 53,000 euros, which was reached in late September 2021, was first broken by Bitcoin on February 28.
In comparison to a number of fiat currencies in 2024, including the Chinese yuan (CNY), which is the biggest fiat currency in the world in terms of market capitalization, bitcoin has been reaching new highs.
According to statistics from Xe.com, in late February, Bitcoin smashed the previous record of about 414,000 CNY, setting a new all-time high versus the Chinese yuan. As of this writing, 467,506 CNY is the value of one bitcoin.
As of February 28, Bitcoin has reached all-time highs in over 30 countries, including China, India, Japan, South Korea, and Argentina, according to Balaji Srinivasan, an angel investor and former CFO of Coinbase.
Despite hitting $65,000, Bitcoin has not yet surpassed certain fiat currencies, such as the US dollar, the British pound, the Swiss franc, the Brazilian real, and the Mexican peso.
Currently, the price of Bitcoin is $65,000, which is around 6% less than its all-time high of $69,000 that was reached on Coinbase in November 2021.
Sam Wouters, the marketing director of River Intelligence, claims that the Mexican peso is the most challenging currency for Bitcoin to overtake. As of this writing, BTC is selling around 1.1 million pesos, down approximately 24% from its previous high of roughly 1.4 million pesos recorded in November 2021, according to statistics from Xe.com.
Since the introduction of spot Bitcoin exchange-traded funds (ETFs) in the United States on January 11, 2024, the cryptocurrency has seen unprecedented growth and has been setting records in a number of fiat currencies. Excepting the large BTC sales by the Grayscale Bitcoin Trust ETF, as of March 1, Bitcoin ETF issuers have acquired at least 340,000 BTC since the debut.
