Bitcoin price tops $70,000 in fresh record high

Bitcoin has achieved a new record price surpassing $70,000, following an announcement by the UK financial regulator permitting the trading of cryptocurrency-backed securities.

On Monday, the cryptocurrency reached an all-time high of $72,398, surpassing its previous peak in November 2021 of nearly $69,000.

The UK financial regulator revealed on the same day that it would “not object” to investment exchanges establishing a UK-listed market segment for cryptoasset-backed exchange-traded notes (cETNs), a financial product tradable like a stock.

Notably, the Financial Conduct Authority emphasized that the sale of cETNs to retail investors or the general public would not be allowed, The Guardian reported.

READ MORE: https://www.theguardian.com/technology/2024/mar/11/bitcoin-price-70000-in-record-high-cryptocurrency-crypto-fca

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