A sign promoting bitcoin transactions is seen in the beach town of El Zonte in El Salvador. Photo: Marvin RECINOS / AFPIn a surf town in El Salvador nicknamed"Bitcoin Beach," shopkeeper Maria Aguirre watched with delight as the cryptocurrency -- and her investment in it -- recently soared to new all-time highs.
The cryptocurrency has been legal tender since 2021 in the Central American nation, and a sign in Aguirre's store selling Shopkeeper Blanca Castillo says that while bitcoin has brought her benefits, she is wary of the cryptocurrency's volatility. Photo: Marvin RECINOS / AFPcontinue to use more traditional methods of sending and that has a lot to do with people's distrust of the volatility of the cryptocurrency," independent economist Cesar Villalona told AFP.
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Bitcoin Hits All-Time High Above $72,000 on Trading Accessibility and Dollar WeaknessBitcoin reached a new all-time high above $72,000 as it gained support from increased trading accessibility and a weaker dollar. The currency's surge follows last week's record-breaking run and the approval of crypto-related securities by the UK's Financial Conduct Authority. The US has already allowed exchange-traded funds (ETFs) tied to bitcoin's spot price, making it easier for mainstream investors to include the cryptocurrency in their portfolios. Analysts believe this indicates that cryptocurrencies are becoming more mainstream, not just bitcoin but also other established coins.
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Signs of bubble in record-setting Bitcoin surge — investment expertBank of America chief investment strategist Michael Hartnett said markets are showing the characteristics of a bubble in the record-setting surge by the technology sector’s so-called Magnificent Seven stocks and the all-time highs in crypto.
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