Bitcoin has skyrocketed this week and is now worth more than $57,000, the highest it has been in more than two years — good news for the cryptocurrency world.
The flagship cryptocurrency was up 7.9% on Tuesday morning to about $57,000 and is up nearly 11% from just five days ago. Since the start of the new year, bitcoin has grown more than 28% in value. It is now the highest it has been since December 2021, shortly after it broke its all-time high.
The rally builds upon what was a very solid 2023 for the digital asset space. Over the past year, bitcoin investors have seen gains in excess of 140%, meaning their investments far outpaced traditional assets such as stocks (other than chipmaker Nvidia).
Also this year, bitcoin’s market cap eclipsed $1 trillion for the first time since 2021 and is now
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