Citing The Coin Republic, Bitcoin's price has reached an all-time high of $106.5K, marking a significant milestone for the cryptocurrency. The surge, which began on October 10, 2024, has seen a 77% increase over nine weeks. Khurram Shroff, CEO of iMining Technologies Inc, highlighted the growing institutional interest, with companies like Apple and Tesla doubling their Bitcoin reserves. Shroff emphasized Bitcoin's evolving role as a global settlement layer and its potential to replace traditional systems like SWIFT. He also noted the shift towards renewable energy in Bitcoin mining, with 80% now using sustainable sources. The rise of Bitcoin as a reserve asset is seen as a move towards a decentralized society, with developing regions like Africa and Latin America leading the charge. The Coin Republic also reported on the potential for increased retail investor activity, which could further drive Bitcoin's price.
Bitcoin Hits $106.5K as Apple, Tesla Boost Reserves, Says Khurram Shroff
KuCoin NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.