{"id":388820,"date":"2021-03-09T07:07:30","date_gmt":"2021-03-09T05:07:30","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=388820"},"modified":"2021-03-09T07:08:53","modified_gmt":"2021-03-09T05:08:53","slug":"bitcoin-hits-highest-level-in-two-weeks","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/388820-bitcoin-hits-highest-level-in-two-weeks.html","title":{"rendered":"Bitcoin hits highest level in two weeks"},"content":{"rendered":"

Bitcoin rose to its highest level since Feb. 23 on Tuesday amid continued interest in digital assets from big institutions.<\/p>\n

The largest cryptocurrency rose as much as 3.6% to around $53,761. Rival Ether also reached its highest point in two weeks, gaining 3.7% in the wake of Chinese beauty app Meitu Inc. saying it had bought not just Bitcoin, but\u00a0Ether as well<\/strong><\/a>.<\/p>\n

\u201cBitcoin and Ethereum bullishness are back as more big-money bets keep flowing into cryptocurrencies,\u201d said Edward Moya, senior market analyst at Oanda. \u201cInstitutional interest still seems strong.\u201d<\/p>\n

While Bitcoin and Ether are still well off their record highs of $58,350 and $1,975 respectively, they\u2019ve climbed back from a drop in late February.<\/p>\n

More and more big players continue to express interest, with Goldman Sachs Group Inc.\u00a0recently confirming<\/a><\/strong>\u00a0that it\u2019s restarting a crypto trading desk, and billionaire investor Dan Loeb last week saying he\u2019d done a \u201cdeep dive<\/a><\/strong>\u201d into crypto.<\/p>\n

Bitcoin is in a \u201cstrong position\u201d to trade at $75,000 \u201ceven as momentum and speculation have been clobbered,\u201d Evercore ISI technical strategist Rich Ross wrote in a note Monday,<\/p>\n

Also helping sentiment, according to Oanda\u2019s Moya: Bitcoin technology and solutions provider NYDIG announced on Monday a $200 million growth capital round led by strategic partners Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management and FS Investments.<\/p>\n

Bessemer Venture Partners and FinTech Collective, who led the two prior funding rounds for NYDIG, were also significant participants, according to a statement.<\/p>\n

\u201cNYDIG will be working with these firms on Bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy, and philanthropy,\u201d Robert Gutmann, co-founder and chief executive officer of NYDIG, said in the statement.<\/p>\n

\u201cIn the months and quarters ahead, look out for an explosion of innovation in Bitcoin products and services delivered by NYDIG, in partnership with our new investors.\u201d<\/p>\n

NYDIG also said that life, annuity and property\/casualty insurers now own more than $1 billion of direct and indirect Bitcoin exposure held on its institutional custody platform.<\/p>\n

\"Bitcoin<\/a><\/p>\n

\n

Now read: South African crypto exchanges move headquarters overseas due to uncertainty over government regulation<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"

Bitcoin rose to its highest level since Feb. 23 on Tuesday amid continued interest in digital assets from big institutions.<\/p>\n","protected":false},"author":341034,"featured_media":248316,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,191],"class_list":["post-388820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/388820"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=388820"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/388820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/248316"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=388820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=388820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=388820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}