{"id":528303,"date":"2024-03-11T11:50:33","date_gmt":"2024-03-11T09:50:33","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=528303"},"modified":"2024-03-11T11:55:53","modified_gmt":"2024-03-11T09:55:53","slug":"bitcoin-blows-through-71000","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/528303-bitcoin-blows-through-71000.html","title":{"rendered":"Bitcoin blows through $71,000"},"content":{"rendered":"

Bitcoin topped $71,000 for the first time, advancing for a sixth straight day and taking this year\u2019s rally to almost 70% on the back of massive inflows into US exchange-traded funds.<\/p>\n

The original cryptocurrency jumped as much as 3.2% to $71,631.45 on Monday. Smaller tokens like Ether, Solana and Avalanche also advanced.<\/p>\n

In South Africa, Bitcoin hit R1,381,827 at around 11:30.<\/p>\n

\u201cThis rally comes following a weak Asian trading session in which shorts tested the conviction of longs \u2014 it appears the longs have given a rather convincing positive answer,\u201d said Richard Galvin, founder of Australia-based crypto-focused investment firm DACM.<\/p>\n

Investors have poured a net almost $10 billion into a batch of new Bitcoin ETFs since they launched in the US two months ago, igniting a broad surge in crypto markets.<\/p>\n

Digital assets scored another win on Monday, as the London Stock Exchange confirmed it will accept applications for admitting Bitcoin and Ether exchange-traded notes.<\/p>\n

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

\n

Reporting with Bloomberg.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin was trading at over R1.38 million in South Africa, taking this year’s rally to almost 70% on the back of massive inflows into US exchange-traded funds.<\/p>\n","protected":false},"author":23,"featured_media":512670,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[187,35],"class_list":["post-528303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-headline"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/528303"}],"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\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=528303"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/528303\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/512670"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=528303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=528303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=528303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}