{"id":2196864,"date":"2024-03-11T18:12:02","date_gmt":"2024-03-11T22:12:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bitcoin-rises-to-record-high-after-uk-approval-of-crypto-asset\/"},"modified":"2024-03-11T18:16:20","modified_gmt":"2024-03-11T22:16:20","slug":"bitcoin-rises-to-record-high-after-uk-approval-of-crypto-asset","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bitcoin-rises-to-record-high-after-uk-approval-of-crypto-asset\/","title":{"rendered":"Bitcoin hits all-time high following UK&#8217;s approval of cryptocurrency asset"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbitcoin-rises-to-record-high-after-uk-approval-of-crypto-asset%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2196864&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large is-resized\"><figcaption class=\"wp-element-caption\">LONDON, ENGLAND \u2013 DECEMBER 07:  A visual\u200b representation of the digital Cryptocurrency, Bitcoin on December 07,\u200b 2017 in \u200bLondon, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cryptocurrency-market-drops-partially-recovers-following-russian-invasion-of-ukraine\/\" title=\"Cryptocurrency Market Drops, Partially Recovers Following Russian Invasion of Ukraine\">remaining extremely volatile<\/a>. (Photo by Dan Kitwood\/Getty Images)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/elizabeth-volberding\">Elizabeth Volberding<br \/><\/a>3:00 PM \u2013 Monday, March 11, 2024<\/h2>\n<p>Following \u200cthe approval \u2062of \u2062an\u200c investment \u2062vehicle supported by cryptocurrencies\u200c by a United Kingdom financial regulator, Bitcoin rose to a record high of over $72,000 on Monday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Monday saw \u200ca milestone high for \u2064Bitcoin as\u2063 it \u2064broke above $72,000 for \u200bthe first time \u200dever.<\/p>\n<p>After \u2064suffering a severe year-long bear market that featured a near-80% price loss, the cryptocurrency\u2063 has decisively broken\u200d beyond its record high of $69,000 set in November 2021.<\/p>\n<p>Since there appears to be an imbalance\u200d in\u200d the supply and demand\u2064 of Bitcoin, \u200binvestors are suddenly calling\u2062 for\u2064 more of the cryptocurrency. Monday\u2019s trading showed that \u200cBitcoin reached $72,166, just a \u2062few\u200b days after it exceeded the previous \u2064peak of around\u2063 $69,000 from November 2021.<\/p>\n<p>Since <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-spot-bitcoin-etf-race-some-pioneers-stick-to-the-sidelines\/\" title=\"Pioneers stay on sidelines in spot bitcoin ETF race\">spot bitcoin exchange-traded funds<\/a> (ETFs) \u200bwere\u2063 introduced in January, demand for Bitcoin has increased, with over\u2062 $20 billion flowing into\u200c the two most well-liked Bitcoin ETFs provided by\u2064 Fidelity and \u200dBlackRock. <\/p>\n<p>The \u200dprice of bitcoin fell by\u2064 10% after surpassing that barrier last week \u200bbefore rising to its present levels.<\/p>\n<p>The UK agency \u200din charge of overseeing\u200b financial matters, the Financial Conduct \u200cAuthority, <a href=\"https:\/\/www.fca.org.uk\/news\/statements\/fca-updates-position-cryptoasset-exchange-traded-notes-professional-investors\" target=\"_blank\" rel=\"noreferrer noopener\">said<\/a> that it \u200dwill \u201cnot object\u201d \u2063if exchanges establish a market\u2063 segment for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/barclays-shareholders-sue-in-u-s-over-17-6-billion-debt-sale-blunder\/\" title=\"Barclays shareholders sue in U.S. over .6 billion debt sale blunder\">exchange-traded notes<\/a>, or cETNs, backed by cryptocurrency\u2063 assets that are listed in the UK.<\/p>\n<p>The financial instruments that will soon be available allow traders \u200dto purchase and sell \u2064assets\u200c whose prices change in \u2064tandem with a certain cryptocurrency. Traders can \u2062effectively invest in \u200ccryptocurrencies through publicly listed assets, getting\u200d rid of the hassle and technical \u200cdifficulty of actually obtaining\u2063 a cryptocurrency.<\/p>\n<p>The Financial Conduct Authority warned\u2063 traders about the \u2063risks involved with investing in\u2062 cryptocurrencies even though it approved cETNs. The authority\u200d also stated that \u200cthe products will\u2064 not be offered to retail investors. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThe FCA continues to\u2063 remind people that\u200d crypto assets \u2063are\u2064 high risk and largely unregulated. Those\u2063 who invest should \u200bbe prepared \u2062to lose all their money,\u201d the agency \u2064 <a href=\"https:\/\/www.fca.org.uk\/news\/statements\/fca-updates-position-cryptoasset-exchange-traded-notes-professional-investors\" target=\"_blank\" rel=\"noreferrer noopener\">said<\/a> in a \u200cstatement.<\/p>\n<\/blockquote>\n<p>The record-high comes after the\u200c United States Securities \u200band Exchange Commission (SEC) authorized \u200bBitcoin Exchange-Traded Funds, \u200dor Bitcoin ETFs, in January.<\/p>\n<p>Additionally, \u2063investors can \u200cinvest \u200cin an asset that follows the price movement of Bitcoin \u200cthrough a Bitcoin ETF without having to put money into the\u200c cryptocurrency itself.<\/p>\n<p>The price\u2064 of Bitcoin skyrocketed after \u200dthe SEC\u2019s approval \u200dof Bitcoin ETFs, \u2062driven up by a wave of new investment.<\/p>\n<p>Several Bitcoin ETFs became \u200davailable shortly after the SEC approved the\u2062 new investment option. These included products from established companies\u2062 like Franklin Templeton and\u200b Fidelity.<\/p>\n<p>The price\u200b of Bitcoin \u2063has increased by\u2062 54% since \u200bthe approval of Bitcoin ETFs \u200don January \u200b10<sup>th<\/sup>.<\/p>\n<p>Bitcoin\u2019s price has historically fluctuated significantly, due to the current gains that have occurred at a quick pace.<\/p>\n<p>Stay informed! Receive\u2064 breaking news\u2063 blasts directly to \u200byour inbox \u2064for\u2064 free. Subscribe\u200b here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\t\u200d\t\tShare this\u200b post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A\u200c new documentary, The Relentless Patriot,\u00a0 about artist Scott\u2064 Labaido \u2063is set to premier at Mar-a-lago on March 13th. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>It might be \u200ba rough\u2064 day\u00a0for some,\u200d but\u00a0a celebration for many!<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>One medical expert says \u2064national panic could set in after the 2024 election concludes. Here\u2019s One \u200bAmerica\u2019s Nathaniel Mannor.  <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Rep. Steve Toth<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Reddit is aiming for a \u2062valuation of up to $6.4\u200c billion in its\u200b U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-exclusive-owners-of-solarwinds-have-links-to-obama-the-clintons-china-hong-kong-and-the-us-election-process\/\" title=\"BREAKING EXCLUSIVE: Owners of SolarWinds Have Links to Obama, the Clintons, China, Hong Kong and the US Election Process\">initial public offering<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Elon Musk said on Monday \u2063his artificial intelligence startup xAI would open-source its ChatGPT challenger \u2063\u201cGrok\u201d this \u200cweek.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>UnitedHealth Group is likely to need several months\u200d to make a full recovery from one of the \u2062most\u200b disruptive \u2062hacks against America\u2019s healthcare \u200binfrastructure.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Google has been touting the myriad innovations in the \u200dfirst building wholly designed and built by the web \u2062giant.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> \u200d How have spot bitcoin exchange-traded funds (ETFs) contributed to \u2064the increased\u200d demand for Bitcoin?<\/h2>\n<p><span>  Itcoin \u200bbreaking the $72,000 mark\u2062 on Monday, following the approval of an investment\u200d vehicle supported by cryptocurrencies by a United Kingdom financial regulator. This milestone high comes after a period \u2064of bearish market conditions for\u2062 Bitcoin, with the cryptocurrency \u2064experiencing a near-80% \u200cprice loss in the past year.<\/p>\n<p>Bitcoin&#8217;s previous \u2062record high of $69,000, set in\u200d November 2021, has now been decisively broken. The sudden \u2063surge in\u200d demand for\u200b Bitcoin can be attributed to\u2062 an apparent imbalance\u2062 in the \u2064supply and demand for \u2062the cryptocurrency. Investors are now calling for more of this digital asset, \u2062leading to a rapid increase in its value.<\/p>\n<p>The introduction of spot bitcoin exchange-traded funds (ETFs) in \u2063January has contributed to the increased demand for Bitcoin. With over $20\u200d billion flowing into the two most popular Bitcoin ETFs offered by Fidelity and BlackRock, investors now have easier access to invest in Bitcoin.<\/p>\n<p>Despite\u200b surpassing the $72,000 \u2064mark, the price of \u200dBitcoin experienced a temporary 10% drop before rising to its present levels. This volatility is characteristic of cryptocurrencies \u2063and highlights the risks\u200b associated\u200b with investing in this\u2063 asset class.<\/p>\n<p>The\u2064 United Kingdom&#8217;s Financial Conduct Authority, responsible for overseeing financial\u200c matters, has stated that \u2063it\u2064 will not object to exchanges establishing a market segment for exchange-traded \u200cnotes (cETNs) backed by cryptocurrencies. These financial instruments enable traders\u200b to invest in cryptocurrencies through publicly listed\u2063 assets without actually owning the\u200d digital asset itself.<\/p>\n<p>While \u2063approving cETNs, the Financial Conduct Authority has \u2064also \u200dwarned traders about the risks involved in investing\u2062 in cryptocurrencies. It emphasizes that crypto assets\u200c are high risk and largely unregulated, and individuals should be prepared to lose\u200d all\u200b their money.<\/p>\n<p>The record-high for Bitcoin comes after the United States Securities and Exchange Commission (SEC) authorized Bitcoin Exchange-Traded \u200cFunds in January.\u200c Investors can now invest in assets that follow\u2064 the \u200cprice movement of Bitcoin through these ETFs without directly owning the cryptocurrency.<\/p>\n<p>The approval of Bitcoin ETFs by the SEC has sparked a wave of new investments, driving the price of Bitcoin up. Established companies like Franklin Templeton and Fidelity have also introduced Bitcoin ETFs, further fueling investor interest.<\/p>\n<p>In conclusion, Bitcoin&#8217;s\u200d price \u2064reaching a record\u2062 high of over $72,000 reflects the increasing demand for cryptocurrencies, fueled by the\u2064 approval of investment vehicles such as ETFs. However,\u200b investors must be\u200c cautious as cryptocurrencies remain highly volatile \u2064and pose significant \u2062risks. Regulatory bodies like the Financial Conduct Authority continue to warn individuals about \u200dthe dangers of \u200cinvesting in this asset class.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The digital Cryptocurrency, Bitcoin, its value has skyrocketed in London, England. Bitcoin, Ethereum, and Lightcoin have experienced remarkable growth in 2017, despite their high volatility. (Photo by Dan Kitwood\/Getty Images) OAN\u2019s Elizabeth Volberding 3:00 PM \u2013 Monday, March 11, 2024<\/p>\n","protected":false},"author":2368,"featured_media":2196865,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/03\/GettyImages-887657568-scaled-e1710192798940.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2196864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/03\/GettyImages-887657568-scaled-e1710192798940.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2196864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2368"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2196864"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2196864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2196865"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2196864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2196864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2196864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}