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While Bitcoin funds are seeing an exodus, investors took advantage of a recent stock selloff to add nearly US$7 billion combined in one session to the Invesco QQQ Trust (QQQ) and SPDR S&P 500 ETF Trust (SPY).
Bitcoin yesterday jumped to a record US$28 599,99, after the digital currency almost quadrupled in value this year amid heightened interest from bigger investors.
The world’s most popular cryptocurrency was last up 2,3 percent at US$28 012. It has surged by nearly half since breaking US$20 000 for the first time on December 16.
Bitcoin has increasingly seen demand from larger US investors in particular, attracted by its perceived inflation-hedging qualities and potential for quick gains, as well as expectations it would become a mainstream payments method. — Online.
Online Reporter