Bitcoin passes new all-time high in euros as price reaches $65K

(Coin Telegraph)-07/03/2024

Bitcoin has just passed a new all-time high against the euro as the cryptocurrency’s price reached a new multi-year high of $65,000.

Bitcoin broke a new psychological milestone above 60,000 euros on March 4, reaching such a value against the euro for the first time in history.

According to data from TradingView, Bitcoin touched 60,393 euros at 8:30 am UTC, surging about 5% from its intraday low of 57,521 EUR. At the time of writing, Bitcoin is trading at 59,981 euros, up around 56% year-to-date.

Bitcoin posted multiple milestones prior to reaching the 60,000-euro price mark. On Feb. 28, Bitcoin broke the all-time high of around 53,000 euros for the first time, which was set in late September 2021.

Bitcoin has been breaking new highs against multiple fiat currencies in 2024, including the Chinese yuan (CNY), the world’s largest fiat currency by market capitalization.

Bitcoin broke a new all-time high against the CNY in late February, breaking the previous record of around 414,000 CNY, according to data from Xe.com. At the time of writing, BTC is worth 467,506 CNY.

According to Balaji Srinivasan, an angel investor and former chief financial officer of Coinbase, Bitcoin passed all-time highs in more than 30 countries as of Feb. 28, including China, India, Japan, South Korea and Argentina.

As Bitcoin reached $65,000, the cryptocurrency has yet to break new highs against a few fiat currencies, including the United States dollar, the British pound, the Swiss franc, the Brazilian real and the Mexican peso.

At the time of writing, Bitcoin is trading at $65,000, or roughly 6% down from the all-time high of $69,000 set on Coinbase in November 2021.

According to River Intelligence marketing head Sam Wouters, the Mexican peso is the most ambitious target for Bitcoin to smash. According to data from Xe.com, BTC is trading at 1.1 million pesos at the time of writing, down about 24% from its previous high of roughly 1.4 million pesos set in November 2021.

Bitcoin has been smashing all-time highs in multiple fiat currencies amid the cryptocurrency gaining bigger exposure after the launch of spot Bitcoin exchange-traded funds (ETFs) in the U.S. on Jan. 11, 2024. Following the launch, Bitcoin ETF issuers purchased at least 340,000 BTC as of March 1, excluding massive BTC sales by the Grayscale Bitcoin Trust ETF.