Bitcoin's soaring value hits a two‑year high, surpassing $60,000
2:06 PM EST, February 28, 2024
The last time Bitcoin's rate exceeded $60,000 was in November 2021. Bloomberg notes that an anticipated decrease in currency supply is fueling market optimism, favoring long-term increases in Bitcoin. The rate has tripled since the beginning of last year, bouncing back from a 64-percent drop in 2022.
Bitcoin rate at its highest in over two years
The intense growth led Bitcoin to achieve its most significant monthly gains since December 2020, when the token's value surged by 50 percent to about $9,600.
Even as investors have moderated their expectations for easing monetary policy this year, digital assets continue to climb. The rising profitability of US Treasury bonds evidences this. In 2024, Bitcoin outperformed traditional investments such as stocks and gold.
