{"id":393309,"date":"2021-04-14T07:39:00","date_gmt":"2021-04-14T05:39:00","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=393309"},"modified":"2021-04-14T07:43:38","modified_gmt":"2021-04-14T05:43:38","slug":"bitcoin-hits-64000-for-first-time","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/393309-bitcoin-hits-64000-for-first-time.html","title":{"rendered":"Bitcoin hits $64,000 for first time"},"content":{"rendered":"

Bitcoin advanced Wednesday, breaching the $64,000 level for the first time after eclipsing its most recent record in March a day earlier as the mood in cryptocurrencies turned bullish ahead of Coinbase Global Inc.\u2019s listing this week.<\/p>\n

The token climbed as much as 1.6% to as high as $64,207 in Asia trading. Cryptocurrency-exposed stocks such as Riot Blockchain Inc. and Marathon Digital Holdings Inc. advanced during U.S. trading hours.<\/p>\n

Crypto bulls are out in force as a growing list of companies embrace Bitcoin, even as skeptics doubt the durability of the boom.<\/p>\n

In one of the most potent signs of Wall Street\u2019s growing acceptance of cryptocurrencies, Coinbase will\u00a0list<\/a>\u00a0<\/strong>on the Nasdaq on April 14 at a valuation of about $100 billion.<\/p>\n

Coinbase\u2019s debut \u201cwill mark the first official juncture between the traditional financial avenue and the alternative crypto path,\u201d Ipek Ozkardeskaya, a senior analyst at Swissquote, wrote in a note.<\/p>\n

\u201cAs such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors.\u201d<\/p>\n

Goldman Sachs Group Inc. and Morgan Stanley have announced plans to\u00a0offer<\/a>\u00a0<\/strong>their clients access to crypto investments.<\/p>\n

Tesla Inc. earlier this year disclosed a $1.5 billion investment in Bitcoin and more recently started accepting it as payment for electric cars.<\/p>\n

Still, skeptics argue that digital coins have been inflated by stimulus that\u2019s also sent stocks to records.<\/p>\n

Regulators around the world are stepping up oversight and casting doubt on its usefulness as a currency.<\/p>\n

Isabel Schnabel, member of the executive board of the European Central Bank, called Bitcoin \u201ca speculative asset without any recognizable fundamental value\u201d in an\u00a0interview<\/a><\/strong>\u00a0with Der Spiegel this month.<\/p>\n

Coinbase\u2019s public debut this week is also boosting the digital coins of\u00a0other<\/strong><\/a>\u00a0cryptocurrency exchanges, such as Binance Coin, which has jumped to become the third-most valuable cryptocurrency behind Bitcoin and Ether.<\/p>\n

Many analysts expect the rally to continue.<\/p>\n

\u201cThe lowest 30-day volatility since October tells us Bitcoin is ripe to exit its cage and continue in a bull-market on its way to the next $10,000 move,\u201d according to Mike McGlone, Bloomberg Intelligence commodities strategist.<\/p>\n

\u201cSimilar to Tesla\u2019s equity-wealth allocation to Bitcoin, the Coinbase IPO may add to the growing list of 2021 crypto-validation milestones.\u201d<\/p>\n

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

\n

Now read: MTI bigwigs hit with R2.5 million claim over previous crypto scam<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"

Bitcoin advanced Wednesday, breaching the $64,000 level for the first time after eclipsing its most recent record in March a day earlier as the mood in cryptocurrencies turned bullish ahead of Coinbase Global Inc.\u2019s listing this week.<\/p>\n","protected":false},"author":341034,"featured_media":383268,"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_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,69395,20719],"class_list":["post-393309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-coinbase-global","tag-tesla"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/393309"}],"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=393309"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/393309\/revisions"}],"predecessor-version":[{"id":393311,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/393309\/revisions\/393311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/383268"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=393309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=393309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=393309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}