Bitcoin continues to outperform its previous day’s high, breaking the $57,000 barrier for the first time since May. At the time of writing, the world’s most popular cryptocurrency is trading at over $57,490 (approximately Rs. 43.3 lakhs) on Binance and CoinMarketCap, while BTC is already valued at over $59,000 on Indian exchange Coinswitch Kuber (roughly Rs. 44.8 lakhs).
In April of this year, the cryptocurrency reached an all-time high of $65,000 (approximately Rs. 48.9 lakhs), and if the surge continues, a new peak may be established in the next day or two.
Cardano, Tether, Ripple, and Polkadot, on the other hand, all continued to fall by 2–3% on average. Dogecoin looks to be trying to turn around its fortunes, sliding 3.58 percent to Rs. 17.96 (about $0.24). In the meantime, rival memecoin Shiba Inu has been holding its own, rising 19.65% in what appears to be a difficult start to the week for most cryptocurrencies.
While the Bitcoin rise has investors thrilled, Ethereum co-founder Vitalik Buterin has criticized El Salvador, the country that formally embraced Bitcoin as legal money in September.
El Salvador’s president, Nayib Bukele, is said to have compelled businesses to take Bitcoin when the country formally adopted the cryptocurrency as legal cash – a move that enraged Buterin, who expressed his displeasure in a Reddit debate in response to another user’s post.
In other news, Bakkt, a platform for institutional investors to trade and hold digital assets on a worldwide network, announced a collaboration with Google, allowing users to link their virtual Visa Debit cards to Google Pay to make in-store and online purchases.