Bitcoin has achieved another historic milestone as it registers a new all-time high against the Euro, surpassing the 60,000 euro threshold for the first time. On March 4, the cryptocurrency witnessed a new multi-year high in dollars, reaching $65,000.
Bitcoin’s acceleration didn’t stop there. Data from TradingView shows that Bitcoin touched 60,393 euros at one point, marking a boost of about 5% from its intraday low of 57,521 euros. The digital currency is not only up about 56% year-to-date, but it also surged past the previous all-time high of approximately 53,000 euros set in late September 2021.
This groundbreaking achievement wasn’t exclusive to the Euro. In 2024, Bitcoin has broken new highs against many fiat currencies including the Chinese Yuan (CNY), which holds the record for the world’s largest fiat currency by market capitalization.
In an exciting twist, Bitcoin hurdled past previous all-time highs in over 30 countries, per Balaji Srinivasan, a pioneer investor and past CFO of Coinbase. This includes countries like China, India, Japan, South Korea, and Argentina. Despite hitting $65,000, Bitcoin hasn’t yet managed to surpass its all-time high against several fiat currencies including the US dollar, Swiss franc, Brazilian real, and Mexican peso.
The digital coin’s rise coincides with its increased exposure owing to the recent launch of spot Bitcoin exchange-traded funds (ETFs) in the US. Post-launch, Bitcoin ETF issuers snapped up a staggering 340,000 BTC, not considering the significant BTC sales by Grayscale Bitcoin Trust ETF.