Bitcoin and other cryptocurrencies rose on Friday as a rally triggered by institutional interest in the sector resumed.
Bitcoin rose 2.8% to $30,979 over the past 24 hours. The largest cryptocurrency was earlier trading above $31,000. The last time bitcoin traded above $31,000 was on June 8, 2022, according to Dow Jones market data.
Buying…
bitcoin
Other cryptocurrencies rose on Friday as a rally sparked by institutional interest in the sector resumed.
bitcoin
It rose 2.8% to $30,979 over the past 24 hours. The largest cryptocurrency was earlier trading above $31,000. The last time bitcoin traded above $31,000 was on June 8, 2022, according to Dow Jones market data.
Interest in buying bitcoin has been fierce this week after a flurry of news about institutional interest in the cryptocurrency, including the launch of a new crypto exchange backed by Wall Street firms and apps from BlackRock (stock ticker: BLK) and other companies to launch exchange trading. The money that will own the digital currency.
“If BlackRock or other companies are successful in this quest for a Bitcoin ETF on the spot, it could stoke competition for Bitcoin spot ETFs, spur companies to create other spot crypto ETFs, and/or pave the way for other crypto products that include the tools. Finance,” analysts at JP Morgan wrote in a research note.
beyond bitcoin,
ether
– the second largest cryptocurrency – up 1% to $1,908. Smaller cryptocurrencies or altcoins, such as
Cardano
And
ribbed
It also moved higher.
Dogecoin
It increased by 1.7%.
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